Agenda packet — Campbell City Council, December 2, 2025 (part 1 of 2)

City Council Agenda
City of Campbell, 70 N. First St., Campbell, California NOTE: This City Council Regular meeting will be conducted in person as well as telecommunication and is compliant with provisions of the Brown Act.

The City Council meeting will be live-streamed on Channel 26 (Xfinity) or Channel 88 (Direct TV), the City's website and on YouTube https://www.youtube.com/user/CityofCampbell for those who only wish to view the meeting.

Those members of the public wishing to provide public comment virtually are asked to register in advance at: https://www.campbellca.gov/signup. After registering, you will receive a confirmation email containing information about joining the meeting. Members of the public may attend the meeting in person at Campbell City Hall - Council Chambers.

Public comment will also be accepted via email at [email protected] until 12:00 p.m. prior to the start of the meeting. Written comments will be posted on the website and distributed to the Council. If you choose to email your comments, please indicate in the subject line “FOR PUBLIC COMMENT” and indicate the item number.

REGULAR MEETING OF THE CAMPBELL CITY COUNCIL
Tuesday, December 02, 2025 07:00 PM
City Hall Council Chamber

CALL TO ORDER/ROLL CALL

PLEDGE OF ALLEGIANCE

SPECIAL PRESENTATIONS AND PROCLAMATIONS
Please Note: Items listed under Special Presentations and Proclamations are considered ceremonial. The City Council will not take action on these matters.

COMMUNICATIONS AND PETITIONS

ORAL REQUESTS
NOTE: This portion of the meeting is reserved for persons wishing to address the City Council on any matter not on the agenda. Persons wishing to address the Council are requested, but not required to complete a Speaker’s Card. Speakers are limited to two (2) minutes. The law generally prohibits the Council from

1. 2.

3. 4.

5. discussion or taking action on such items. However, the Council may instruct staff accordingly regarding Oral Requests.

COUNCIL ANNOUNCEMENTS

CONSENT CALENDAR
NOTE: All matters listed under consent calendar are considered by the City Council to be routine and will be enacted by one motion. There will be no separate discussion of these items unless a request is made by a member of City Council, City staff, or a member of the public. Any person wishing to speak on any item on the consent calendar should ask to have the item removed from the consent calendar prior to the time the Council votes to approve. If removed, the item will be discussed in the order in which it appears.

Minutes of City Council Study Session Meeting of November 18, 2025.

Page 7 ends

Recommended Action
Approve the study session meeting minutes of November 18, 2025.

Minutes of City Council Regular Minutes of November 18, 2025. Page 11 Recommended Action
Approve the regular meeting minutes of November 18, 2025.

Approving the Bills and Claims Page 19
Recommended Action
Approve the bills and claims in the amount of $2,178,670.25.

Monthly Investment Transactions Report- October 2025 Page 21 Recommended Action
That the City Council review and accept the Monthly Investment Transactions Report for October 2025.

Monthly Treasurer’s Report (October 2025) Page 66
Recommended Action
That the City Council review and accept the Monthly Treasurer’s Report for the month ended October 31, 2025.

Resolution Reviewing and Accepting the Annual Developer Fee Disclosure Information for the Environmental Services Fee,

6. 7.

7.1 7.2

7.3 7.4

7.5 7.6
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Parkland Dedication Fee, and Vehicle Impact Fee and Making FiveYear Findings for the Parkland Dedication Fee and Vehicle Impact Fee for the Fiscal Year Ended June 30, 2025 Pursuant to California Government Code (GC) Section 66001 (Resolution/Roll Call Vote) Recommended Action
That the City Council adopt a resolution consistent with the Mitigation Fee Act (AB1600) to review and accept the annual developer fee disclosure information for the Environmental Services Fee, Parkland Dedication Fee, and Vehicle Impact Fee and make five-year findings for the Parkland Dedication Fee and Vehicle Impact Fee for the Fiscal Year ended June 30, 2025 pursuant to California Government Code (GC) Section 66001.

Community Facilities District No. 1 Report Fiscal Year (FY) 2024- 25

Page 88 ends

Recommended Action
That the City Council note and file the Annual Bond Accountability Report for the City’s Community Facilities District No. 1 (“CFD”) for Fiscal Year ending June 30, 2025, as mandated by the California Government Code Sections 53411 and 50075.3.

Community Facilities District No. 2 Report Fiscal Year (FY) 2024- 25

Page 121 ends

Recommended Action
That the City Council note and file the Annual Bond Accountability Report for the City’s Community Facilities District No. 2 (“CFD”) for Fiscal Year ending June 30, 2025, as mandated by the California Government Code sections 53411 and 50075.3.

Resolution Declaring Weeds a Public Nuisance and Scheduling a Public Hearing (Resolution/ Roll Call Vote)

Page 137 ends

Recommended Action
That the City Council adopt a resolution declaring weeds a public nuisance, and setting February 3, 2026, as the date for a public hearing to hear protests.

Adoption of Ordinance 2337 (Inclusionary Housing Ordinance) amending Chapter 21.24 and 21.14 (Overlay/Combining Districts); and Ordinance 2338 amending Chapter 21.20 (Ordinance/Roll Call Vote)

Page 144 ends

Recommended Action

7.7 7.8

7.9 7.10
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That the City Council take second readings to adopt Ordinances 2337 and 2338.

Adopt a Resolution Amending the City of Campbell Salary Schedule for Temporary Positions (Resolution/Roll Call Vote)

Page 171 ends

Recommended Action
Adopt a resolution amending the City of Campbell Salary Schedule for temporary positions to address California’s minimum wage increase and remove inactive classifications.

Second Side Letter Agreement with Campbell Peace Officers Association (Resolution/Roll Call Vote)

Page 178 ends

Recommended Action
Adoption of resolution approving a Second Side Letter Agreement with the Campbell Peace Officers Association extending the current Memorandum of Understanding to June 30, 2025.

Authorization to Accept Silicon Valley Clean Energy (SVCE) 2024 Member Agency Noncompetitive Grant Award, Approve the Grant Agreement and the Associated Budget Adjustment
(Resolution/Roll Call Vote)

Page 187 ends

Recommended Action
That the City Council adopt a resolution authorizing the acceptance of a Silicon Valley Clean Energy (SVCE) 2024 Member Agency Noncompetitive Grant award, approve the grant agreement and associated budget adjustment and authorize the City Manager to execute the grant agreement.

PUBLIC HEARINGS AND INTRODUCTIONS OF ORDINANCES
NOTE: Members of the public may be allotted up to two (2) minutes to comment on any public hearing item.

Applicants/Appellants and their representatives may be allotted up to a total of five (5) minutes for opening statements and up to a total of three (3) minutes maximum for closing statements. Items requested/recommended for continuance are subject to Council’s consent at the meeting.

Public Hearing to Consider (1) Adoption of an Ordinance Extending Interim Ordinance No. 2321 Implementing SB 450 (regulating Urban Lot Splits and Two-Unit Housing Developments) and (2) Adoption of an Ordinance Extending Interim Ordinance No. 2322 (governing Accessory Dwelling Units), each for a period of one year (Ordinances / 4/5 Roll Call Vote).

Page 211 ends

7.11 7.12

7.13 8.

8.1 Tuesday, December 02, 2025 4 of 239
Recommended Action
It is recommended that the City Council (1) adopt an ordinance extending Interim Ordinance No. 2321; and (2) adopt an ordinance extending Interim Ordinance No. 2322, each for a period of one year.

NEW BUSINESS
Resolution Approving an Agreement with Environmental Services, Inc. (ESI) in an Amount Not to Exceed $406,792, to provide equipment and labor for the replacement of the Campbell Community Center Building A HVAC chillers; and allow the City to dispense with its formal bidding procedures as specified in the Campbell Municipal Code Section 3.20.030(3), authorize the City Manager to execute said agreement, and approve an associated budget adjustment (Resolution/Roll Call)

Page 222 ends

Recommended Action
That the City Council adopt a resolution: 1) approving an agreement with Environmental Services, Inc. (ESI) in an amount not to exceed $406,792, to provide equipment and labor services to replace the Campbell Community Center Building A HVAC chillers; 2) allowing the City to dispense with its formal bidding procedures as specified in Campbell Municipal Code Section 3.20.030 for emergency situations requiring services to safeguard life, health, and/or property; 3) authorizing the City Manager to execute said agreement specified in Campbell Municipal Code Section

3.20.100; and 4) authorizing the Finance Director to perform the associated budget adjustment
Budget Adjustment to Fund Maintenance and Repair Projects for the Heritage Theatre

Page 231 ends

Recommended Action
That the City Council approve the Council Resolution authorizing a budget adjustment to fund necessary maintenance and repair projects at the Heritage Theatre.

UNFINISHED BUSINESS

COUNCIL COMMITTEE REPORTS
Council Committee Reports Page 236
Recommended Action

9. 9.1

9.2 10.

11. 11.1
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That the City Council report on activities from their committee assignments.

ADJOURN
IMPORTANT NOTICE: Materials related to an item on this agenda submitted to the City Council after distribution of the agenda packet are available for public inspection with the agenda packet in the lobby of City Clerk’s Office, 70 N. First Street, Campbell, CA 95008, during normal business hours. These materials will also be available on the City website at https://pub-campbell.escribemeetings.com with the agenda packet following the last item of the agenda, subject to staff’s ability to post the documents prior to the meeting. All documents not posted prior to the meeting will be posted the next business day.

In compliance with the Americans with Disabilities Act, listening assistive devices are available for all meetings held in the City Council Chambers. If you require accommodation, please contact the City Clerk’s Office, (408) 866-2117, at least one week in advance of the meeting.

12. Tuesday, December 02, 2025 6 of 239

CITY COUNCIL MINUTES
City of Campbell, 70 N. First St., Campbell, California

STUDY SESSION MEETING OF THE CAMPBELL CITY COUNCIL
Tuesday, November 18, 2025 06:00 PM
City Hall Council Chamber
This City Council meeting was duly noticed pursuant to open meeting requirements of the Ralph M. Brown Act (G.C. Section 54956).

This meeting was recorded and can be viewed in it's entirety at: https://pubcampbell.escribemeetings.com PRESENT:

Mayor Lopez
Vice Mayor Furtado
Councilmember Scozzola
Councilmember Bybee
Councilmember Hines
ABSENT:

None

1. CALL TO ORDER/ROLL CALL
The City Council of the City of Campbell convened this day in the special meeting place, the Doetsch Conference Room, 70 N. First Street, Campbell, California.

Roll call was taken and quorum was confirmed.

Councilmember Scozzola participated remotely from Banco de Costa Rica Puntarenas Bahia Ballena, 60504, Costa Rica.

2. PUBLIC COMMENT
Alan Zisser, Campbell resident, stated support for the establishment of a Housing Commission. He supported folding it into the Planning Commission and incorporating responsibilities of supporting the unhoused into the scope of the Housing Commission.

3. Study Session to Consider the Establishment of a Housing Commission Item 7.1
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Recommended Action: That the City Council receive the report and provide feedback regarding the potential establishment of a Housing Commission.

Community Development Director Eastwood introduced the item and Housing Program Manager Murillo-Garcia. He stated the purpose of the study session was to consider establishing a Housing Commission to advise the City on implementation of housing programs and policies; and the request for staff to review the reactivation of the City's Rental Increase Fact-Finding Committee (RIFFC).

In response to an inquiry regarding the establishment of a Subcommittee derived from a standing committee, staff noted there are current subcommittees such as SARC. Staff noted potential benefits would be not having to recruit new members, drawbacks could be that Subcommittee recommendations would have to go back through the commission for recommendation and then to Council for final approval.

Staff confirmed that staffing a new commission would take approximately 5 staff hours per meeting, and that does not include staff report writing or recruitments.

The City Council asked about Project Sentinel and staff confirmed they are currently providing consolations and mediation services. In the last five years, they have only had four cases related to rent increases.

Staff confirmed filling vacant positions and commission recruitments have been challenging over the last several years.

Councilmember Bybee supported continuing with Project Sentinel and not reestablishing the RIFFC. Additionally, she supported a housing committee and recommended either forming a subcommittee of the Planning Commission or a subcommittee comprised of Planning Commission and Civic Improvement Commission members, that could meet quarterly or as needed.

Councilmember Scozzola agreed with Councilmember Bybee in combining commissions and suggested filling it with 2 homeowners, 2 renters and 1 landlord commission. He was supportive of establishing it as its own separate commission. Additionally, he thought that Project Sentinel only had four cases because there was not enough information and public awareness. He suggested increasing that via the website, the Recreation Guide etc. He stated support of the City using subpoena orders to mandate participation in a rent mediation meetings.

Councilmember Hines appreciated the review of other cities to help decipher what other cities are doing and what could work well with Campbell. He stated support for adding this Item 7.1
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to the Civic Improvement Commission duties. He acknowledged the challenges with recruitments.

Vice Mayor Furtado was not supportive of creating a separate housing commission. He recommended including those duties as part of the Planning Commission. He stated support of reactivating the RIFFC and making it a requirement to attend if the other party requests it.

Mayor Lopez stated he was open to a commission subcommittee or a blend of two commissions such as the Civic Improvement Commission or the Planning Commission. He was open to possibly having members that are not residents but do have subject matter experience. He was cautious of having too many restrictions and the budget and staffing limitations. Additionally, he would like more information on the policy advisory component.

He was in favor of sunsetting the RIFFC formally, noting that the skill set required is better done by the trained mediators like those at Project Sentinel versus a resident made committee. He requested more information on these processes be brought back for further review.

Councilmember Scozzola was in favor of incorporating unhoused programs as part of the proposed housing commission goals. He was supportive of revitalizing the RIFFC and recruiting people that represent the city.

Councilmember Bybee noted if the City is looking at establishing a new committee, the current ordinances that state Project Sentinel fields these issues and then it moves to the RIFFC would need to be reviewed and amended where appropriate.

Mayor Lopez noted that much of the focus has been on rent increases, and the RIFFC.

However, most Project Sentinel cases are not about rent increases but other tenant landlord disputes and they have been effective in resolving those issues.

Following a request by Councilmember Hines, Mayor Lopez allowed for additional public comment.

Anil Babar, with the California Apartment Association (CAA) stated that with the passage of AB 1482 there is a statewide cap on rents. He stated support for a housing commission and noted the CAA is ready to be a resource in helping connect the City with property owners and tenants to help with recruitment efforts.

Community Development Director Eastwood reviewed next steps noting the Council was supportive of a Housing Commission using an existing commission in some form. He would bring back information on duties and policies of the Commission such as the Item 7.1
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unhoused, funding and budget.

City Manager Loventhal added further discussions will also include staffing costs, including the cost of using subpoena powers; and looking at the process of Project Sentinel.

4. ADJOURN
Mayor Lopez adjourned the meeting at 7:03 p.m.

APPROVED: Sergio Lopez, Mayor
ATTEST: Andrea Sanders, City Clerk
Item 7.1
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CITY COUNCIL MINUTES
City of Campbell, 70 N. First St., Campbell, California

REGULAR MEETING OF THE CAMPBELL CITY COUNCIL
Tuesday, November 18, 2025 07:00 PM
City Hall Council Chamber
This City Council meeting was duly noticed pursuant to open meeting requirements of the Ralph M. Brown Act (G.C. Section 54956).

This meeting was recorded and can be viewed in it's entirety at: https://pubcampbell.escribemeetings.com PRESENT:

Mayor Lopez
Vice Mayor Furtado
Councilmember Scozzola
Councilmember Bybee
Councilmember Hines
ABSENT:

None

1. CALL TO ORDER/ROLL CALL
The City Council of the City of Campbell convened this day in the regular meeting place, the City Hall Council Chamber, 70 N. First St., Campbell, California.

Roll call was taken and quorum was confirmed.

Councilmember Scozzola participated remotely from Banco de Costa Rica Puntarenas Bahia Ballena, 60504, Costa Rica.

2. PLEDGE OF ALLEGIANCE
The Pledge of Allegiance was led by Mayor Lopez.

3. SPECIAL PRESENTATIONS AND PROCLAMATIONS
There were no special presentations and proclamations.

Item 7.2
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4. COMMUNICATIONS AND PETITIONS
There were no communications and petitions.

5. ORAL REQUESTS
There were no oral requests.

6. COUNCIL ANNOUNCEMENTS
I want to hear from you. Please join me for a community conversation “Office Hours with the Mayor” on Tuesday, December 9 from 5:30pm to 6:30pm in these Council Chambers. This is your opportunity to share the issues that matter to you – whether it’s neighborhood safety, local services, or ideas to make our city event better. Together we can build solutions that align with our community.

City offices will be closed on Thursday, November 27 and Friday, November 28 in observance of the Thanksgiving holiday. Police and Emergency Services will remain open for business.

The City Clerk’s Office is accepting applications for the Parks and Recreation Commission through Friday, November 28. Interested residents may apply on the City’s website at campbellca.gov, or by contacting the Clerk’s Office at 408-866-2117 or via email at [email protected].

The annual Downtown Campbell Carol of Lights celebration will be held on Saturday, December 6 from 4:00pm – 7:00pm. Calling All Ugly Sweaters - show off your most outrageous holiday fashion. Fun for all ages: face painting, petting zoo, arts and crafts, and bounce houses. This festive event is free and open to everyone. Don’t miss the holiday cheer in downtown Campbell.

The Ainsley House and Museum Holiday Boutique is open for public tours every Thursday through Sunday, from 11:00am – 3:00pm. Tours are available until December 21. For more information about this and other upcoming events, please visit campbellmuseums.com.

7. CONSENT CALENDAR
Mayor Lopez asked if anyone wished to remove an item off the Consent Calendar.

Vice Mayor Furtado referenced Item 7.4 to acknowledge the $5,000 dontation from Gayle Item 7.2
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Bowen Nolasco to the Campbell Museum.

No items were removed from the Consent Calendar.

MOVER Furtado
SECONDER Bybee
AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)

7.1 Minutes of City Council Executive Session Meeting of November 4, 2025 Approve the executive session meeting minutes of November 4, 2025.

This action approves the executive session meeting minutes of November 4, 2025.

7.2 Minutes of City Council Regular Minutes of November 4, 2025.

Approve the regular meeting minutes of November 4, 2025.

This action approves the regular meeting minutes of November 4, 2025.

7.3 Approving the Bills and Claims
Approve the bills and claims in the amount of $3,392,221.58.

This action approves the bills and claims in the amount of $3,392,221.58 as follows:
bills and claims checks dated October 20, 2025, in the amount of $251,579.89; payroll checks dated October 23, 2025, in the amount of $33,613.00; and bills and claims checks dated October 27, 2025, in the amount of $3,107,028.69.

7.4 Accept Donation of $5,000 from Gayle Bowen Nolasco for the Campbell Historical Museum & Ainsley House
It is recommended that the City Council accept a donation of $5,000 from Gayle Bowen Nolasco to be deposited into the Museum Donation Account, with funds to be used at the Museum’s discretion for special projects, and to approve an associated budget adjustment to recognize the donation.

Resolution 13346 accepts a donation of $5,000 from Gayle Bowen Nolasco to be deposited into the Museum Donation Account, with funds to be used at the Museum’s discretion for special projects, and to approve an associated budget Item 7.2
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adjustment to recognize the donation.

8. PUBLIC HEARINGS AND INTRODUCTIONS OF ORDINANCES
*8.1 Public Hearing to consider recommendation of (1) an ordinance amending Chapter 21.24 (Inclusionary Housing Ordinance) and Chapter

21.14 (Overlay/Combining Districts) to facilitate housing development and clarify related regulatory requirements; and (2) an ordinance amending Chapter 21.20 (Density Bonuses and Other Housing Incentives) to implement Assembly Bill 1287 (2023) and establish a local density bonus incentive to encourage the production of small-scale "affordable by design" housing units in furtherance with the 2023–2031 Housing Element. Resolutions/Ordinances/Roll Call Vote) MOVER Lopez
SECONDER Hines
That the City Council take the following actions: (1) Take first reading, introducing Ordinance 2337 amending Chapter 21.24 (Inclusionary Housing Ordinance) and Chapter 21.14 (Overlay/Combining Districts) including the desk item and (2) Take first reading, introducing Ordinance 2338 amending Chapter

21.20 (Density Bonuses and Other Housing Incentives).

AYES (4): Lopez, Furtado, Bybee, and Hines
ABSTAINED (1): Scozzola
RESULT: ADOPTED [UNANIMOUS] (4 to 0)
This is the time and place for a public hearing to consider an ordinance amending Chapter 21.24 (Inclusionary Housing Ordinance) and Chapter 21.14 (Overlay/Combining Districts); and an Ordinance amending Chapter 21.20 (Density Bonuses and Other Housing Incentives).

Housing Program Manager Murillo-Garcia presented a staff report dated November 18, 2025.

Community Development Director Eastwood spoke about two currently entitled afforadable housing projects from VTA and Charity Housing, noting staff would be willing to work with them for a modified project submittal and subsequent approval.

Following City Council questions, Mayor Lopez opened the public hearing and asked if anyone wished to speak.

Item 7.2
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John Pringle, representing Barbano Enterprises, owner of the Hickory Pit site spoke in support of the small unit density bonus plan.

Jeremy Lui, of Cresleigh Homes, spoke in support of the small unit density bonus.

Seeing no one else wishing to speak, Mayor Lopez closed the public hearing.

After discussion there was a motion for approval. The motion was adopted by roll call vote.

City Clerk Sanders read the full title of Ordinance 2337. The City Council motioned to waive further reading of Ordinance 2337. The motion was adopted by roll call vote.

City Clerk Sanders read the full title of Ordinance 2338. The City Council motioned to waive further reading of Ordinance 2337. The motion was adopted by roll call vote.

MOVER Bybee
SECONDER Hines
To waive further reading of Ordinance 2337.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)
MOVER Bybee
SECONDER Hines
To waive further reading of Ordinance 2338.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)

9. NEW BUSINESS

9.1 Updates to Campbell Administrative Policy 2.8 - Insurance Claims Procedures (Resolution Roll Call Vote)
Item 7.2
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MOVER Hines
SECONDER Bybee
That the City Council approve resolution 13347 to amend Campbell Administrative Policy 2.8 (Insurance Claims Procedures) Section 7.F.2 regarding claims settlement authority levels to account for inflationary factors, improve operational efficiency, and align to best practice within similar municipalities, the City’s self-insured retention limit (SIR), and recent changes to the City Manager’s agreement award threshold, Section 7.B regarding delegation of authority to deny claims, and several other sections to clarify and bring current language where necessary.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)
Finance Director Fuentes presented a staff report dated November 18, 2025.

Following City Council questions, Mayor Lopez asked if anyone from the public wished to speak.

Vice Mayor Furtado stated the Council should be made aware periodically of the types of claims received.

Councilmember Bybee noted the policy does include a quarterly reporting of claims to the City Council.

City Manager Loventhal confirmed Section H of the policy states "On a quarterly basis, the City Manager will meet with the designated Risk Manager and review the status of all general liability claims. In addition, the City Manager and designated Risk Manager will keep the City Council apprised of significant activity related to liability suits as a matter of routine." He noted that staff would remove the word "significant" from that section to reflect Council direction to see all claim based activity.

Mayor Lopez asked that this policy return periodically for relavant revisions to ensure it stays up to date.

After discussion, the City Council motioned for approval. The motion was adopted by unanimously by roll call vote.

Item 7.2
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9.2 Modifications to City Council Policy Section 10
MOVER Bybee
SECONDER Furtado
That the City Council adopt Resolution 13348 to review and approve the proposed revisions to City Council Policy Section 10, including the relocation of specific provisions to newly established Sections 24 and 25, in order to enhance organization, improve clarity, and ensure greater policy consistency.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)
Recreation and Community Services Director Bissell presented a staff report dated November 18, 2025.

Following City Council questions, Mayor Lopez asked if anyone from the public wished to speak.

There were no public speakers.

Councilmember Bybee noted that the section regarding City Hall parking is stricken from the revised policy and thinks it should be included as part of this policy update.

Recreation and Community Services Director Bissell confirmed that once everthing with City Hall parking has been finalized it would be brought back to Council for approval.

After discussion the City Council motioned for approval of the item. It was approved unimously by roll call vote.

10. UNFINISHED BUSINESS
There was no unfinished business.

11. COUNCIL COMMITTEE REPORTS

11.1 Council Committee Reports
That the City Council report on activities from their committee assignments.

Vice Mayor Furtado spoke of the West Valley Stormwater Management Authority is running an article in the Campbell Press free of charge on "Adopt a Storm Drain" Item 7.2
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campaign.

Councilmember Bybee attended the Cities Association of Santa Clara County Board meeting.

Councilmember Hines attended a Silicon Valley at Home Round Table discussion; Cities Association of Santa Clara, Board and Legislative Action Committee meetings; took a tour of the Ainsley House; participated in the Santa Clar County Preenting Homelessness webinar; Campbell Vererans celbration; West Valley Stormwater Authority Board meeting and West Valley Solid Waste Authority as the alternate member; and gave a business shoutout to Naschmarket for their ecellent food.

Mayor Lopez attended a Valley Transportation Authority (VTA) meeting , and their Ad Hoc Culture and Climate committee.

12. ADJOURN
Mayor Lopez adjourned the meeting at 8:17 p.m.

APPROVED: Sergio Lopez, Mayor
ATTEST: Andrea Sanders, City Clerk
Item 7.2
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City Council Report
DATE: December 2, 2025
TITLE: Approving the Bills and Claims
RECOMMENDED ACTION:

Approve the bills and claims in the amount of $2,178,670.25

DISCUSSION
The bills and claims that have been audited and approved by staff for payments made as noted below:

FISCAL IMPACT
Requested action does not require a budget adjustment. Adequate funding was available to cover all expenses as listed.

PREPARED BY:

Celia Cruz Deniz, Accounting Clerk II
Item 7.3
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Report Approval Details
Document Title: Report Approving Bills and Claims 12.02.25.docx Attachments: Bills & Claims 11.03.25.pdf
Payroll 11.06.25.pdf
Bills & Claims 11.10.25.pdf
Final Approval Date: November 24, 2025
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 7.3
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City Council Report
DATE: December 2, 2025
TITLE: Monthly Investment Transactions Report- October 2025 RECOMMENDED ACTION:

That the City Council review and accept the Monthly Investment Transactions Report for October 2025.

BACKGROUND
As required by California Government Code (GC) Section 53607, staff will submit to the City Council Monthly Investment Transaction Reports within 45 days of the prior month end that show a listing of investments purchased, sold, called, or reached maturity, along with any Local Agency Investment Fund (LAIF) or California Asset Management Program (CAMP) transfers. This is in addition to the Quarterly Investment Report, which shows several other items listed under Section VII.A of the City’s Investment Policy and is also submitted to the City Council within 45 days from the end of the prior quarter.

DISCUSSION
This Monthly Investment Transaction Report covers October 2025. As shown in Attachment 1, staff deposited $600,000 into the City’s main Local Agency Investment Fund (LAIF) and withdrew $1.5 million to manage operating cash flow. From the Measure O 2022 LAIF bond account, $2.1 million was withdrawn to cover applicable September 2025 project expenditures. Q1 FY 2026 Interest earned from July through September was posted in the amounts of $192,000 and $143,000 respectively into the accounts. The monthly LAIF investment rate dropped slightly to 4.15%. In the California Asset Management Program (CAMP) accounts, $468,000 was deposited into the City’s escrow account, representing October’s Measure K sales tax payments from the California Department of Tax and Fee Administration (CDTFA). Monthly dividends earned of $36,000 and $8,000 were posted to the regular investment and escrow accounts respectively. The current yield in CAMP dipped slightly to 4.26%. In the City’s BNY investment custodial account managed by Chandler Asset Management, $260,000 in new investments were purchased, spread among 3 Corporate bonds; Goldman Sachs- $105,000 (4.153%, 4 yrs) and two (2) Morgan Stanley bonds- totaling $155,000 (both at

4.133%, 4 yrs). $91,000 in net interest, dividends, realized loss and other accruals were posted in the BNY / Chandler account. The average market Yield to Maturity (YTM) remained flat at 3.87%. The BNY / Chandler strategy continues targeting diversification Item 7.4
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by locking in longer-term rates as short-term LAIF and CAMP rates continue decreasing.

Consistent with the recommended FY 2025-26 Investment Strategy approved by the City Council on September 16, 2025, staff and the City’s investment advisors continue to watch for moderately long-term investment opportunities outside of LAIF, as interest rates remain high but have stabilized to provide the highest yet still safe returns, consistent with the City’s Investment Policy. Please note that all investment purchases made adhere to the City’s Investment Policy

FISCAL IMPACT
There is no fiscal impact associated with the review and acceptance of the Monthly Investment Transactions Report.

PREPARED BY: John Formale, Accountant
Item 7.4
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Report Approval Details
Document Title: Report Monthly Investment Transactions Report- October 2025.docx
Attachments: Monthly Investment Activity Report- 10.31.25.pdf Chandler BNY Investment Statement- 10.31.25.pdf
Final Approval
Date:

November 25, 2025
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 7.4
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CITY OF CAMPBELL
Monthly Investment Transactions Report
October 1 to October 31 2025
Account Trans. Date25 October'25
LAIF - ******133, Main account
Average Monthly Yield 4.150%
Beginning Balance $ 8,268,077
Transactions
Deposit 10/6/2025 600,000
Withdrawal 10/8/2025 (1,000,000)
Withdrawal 10/14/2025 (500,000)
Q1'26 (Jul-Sep) Interest Earnings 10/15/2025 191,549
(708,451)
Ending Balance $ 7,559,626
Account Trans. Date25 October'25
LAIF - ******032, MEAS O, Series 2022
Average Monthly Yield 4.150%
Beginning Balance $ 11,036,000
Transactions
Withdrawal- September project expenditures 10/15/2025 (2,053,000) Q1'26 (Jul-Sep) Interest Earnings 10/15/2025 143,263
(1,909,737)
Ending Balance $ 9,126,263
Account Trans. Date25 October'25
CAMP - ******001, Regular
Average Monthly Yield 4.26%
Beginning Balance $ 10,003,456
Transactions
Dividends 10/31/2025 36,196
36,196
Ending Balance $ 10,039,652
Account Trans. Date25 October'25
CAMP - ******002, Meas K Sales Tax escrow
Average Monthly Yield 4.26%
Beginning Balance $ 2,230,760
Transactions
Deposit-October sales tax receipts 10/28/2025 468,172
Dividends 10/31/2025 8,290
476,461
Ending Balance $ 2,707,221
Account*** Trans. Date25 October'25
Bank of New York (BNY) - ******818
Average Monthly Yield/Market YTM 3.87%
Beginning Balance 20,756,055
Note: Purchases listed at par value, see Chandler Monthly Statement for add'l detail Transactions
Purchase - Corporate; Goldman Sachs- 4.153%, 4 yrs 10/21/2025 105,000 Purchase - Corporate; Morgan Stanley- 4.133%, 4 yrs 10/22/2025 75,000 Purchase - Corporate; Morgan Stanley- 4.133%, 4 yrs 10/22/2025 80,000 Interest & dividends 10/31/2025 90,843
MM transfers- Principle paydown, purchased/sold interest 10/31/2025 (259,981) 90,861
Ending Balance 20,846,916
Total of all Investments
Beginning $ 52,294,348
Ending $ 50,279,678
Item 7.4
Tuesday, December 02, 2025 24 of 239

MONTHLY ACCOUNT STATEMENT
City of Campbell | Account #11214 | As of October 31, 2025 CHANDLER ASSET MANAGEMENT | chandlerasset.com
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.

Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Custodian:

PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Performance Review
Account Summary
Maturity Distribution
Top Issuers
Credit Quality*
Total Rate of Return** 1M 3M YTD 1YR 2YRS 3YRS 5YRS 10YRS Since Inception (03/01/25)
City of Campbell 0.37% 1.69% -- -- -- -- -- -- --
Benchmark Return 0.37% 1.66% -- -- -- -- -- -- --
Average Modified Duration 2.65
Average Coupon 4.07%
Average Purchase YTM 4.21%
Average Market YTM 3.87%
Average Credit Quality* AA
Average Final Maturity 3.18
Average Life 2.92
End Values as of
09/30/2025
End Values as of
10/31/2025
Market Value 20,959,881.27 21,056,881.75
Accrued Interest 162,670.11 143,826.15
Total Market Value 21,122,551.38 21,200,707.90
Income Earned 92,912.05 74,503.88
Cont/WD 0.00 0.00
Par 20,849,832.66 20,939,724.01
Book Value 20,763,804.19 20,856,220.08
Cost Value 20,757,750.18 20,847,679.56
United States 41.05%
FHLMC 10.04%
Farm Credit System 4.75%
Federal Home Loan Banks 2.37%
International Bank for Recon and Dev 2.28%
Toyota Motor Corporation 1.92%
BMW Vehicle Owner Trust 1.92%
American Express Credit Master Trust 1.78%
**Periods over 1 year are annualized.

Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index *The average credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.

RECONCILIATION SUMMARY
Accrual Activity Summary
Fair Market Activity Summary
Month to Date Fiscal Year to Date
(07/01/2025)
Beginning Book Value 20,763,804.19 20,540,867.11
Maturities/Calls 0.00 (2,250,000.00)
Principal Paydowns (7,842.86) (30,813.05)
Purchases 353,292.66 4,848,262.99
Sales (254,607.00) (2,259,505.77)
Change in Cash, Payables, Receivables (931.95) 385.78
Amortization/Accretion 2,505.04 6,814.31
Realized Gain (Loss) (0.00) 208.71
Ending Book Value 20,856,220.08 20,856,220.08
Month to Date Fiscal Year to Date
(07/01/2025)
Beginning Market Value 20,959,881.27 20,681,866.80
Maturities/Calls 0.00 (2,250,000.00)
Principal Paydowns (7,842.86) (30,813.05)
Purchases 353,292.66 4,848,262.99
Sales (254,607.00) (2,259,505.77)
Change in Cash, Payables, Receivables (931.95) 385.78
Amortization/Accretion 2,505.04 6,814.31
Change in Net Unrealized Gain (Loss) 4,584.59 59,661.98 Realized Gain (Loss) (0.00) 208.71
Ending Market Value 21,056,881.75 21,056,881.75
Maturities / Calls
Month to Date 0.00
Fiscal Year to Date (2,250,000.00)
Principal Paydowns
Month to Date (7,842.86)
Fiscal Year to Date (30,813.05)
Purchases
Month to Date 353,292.66
Fiscal Year to Date 4,848,262.99
Sales
Month to Date (254,607.00)
Fiscal Year to Date (2,259,505.77)
Interest Received
Month to Date 90,842.80
Fiscal Year to Date 312,230.85
Purchased / Sold Interest
Month to Date 0.00
Fiscal Year to Date (4,286.68)
Item 7.4
Tuesday, December 02, 2025 27 of 239
CONFIDENTIAL | 4
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
891940AC2 TAOT 2023-A A3 4.63
09/15/2027 64,568.73 11/14/20244.63%
64,593.95
64,581.29
100.21

4.12%
64,706.26
132.87

0.31%
124.98
NA/AAA
AAA

1.87 0.38
362962AD4 GMALT 2025-2 A3 4.58
05/22/2028 95,000.00 05/20/20254.84%
94,998.42
94,998.65
100.79

4.01%
95,750.22
132.95

0.45%
751.57
NA/AAA
AAA

2.56 1.27
379965AD8 GMALT 2025-3 A3 4.17
08/21/2028 90,000.00 08/05/20254.18%
89,986.32
89,987.31
100.26

4.04%
90,235.98
114.68

0.43%
248.67
NA/AAA
AAA

2.81 1.55
47800RAD5 JDOT 2024 A3 4.96 11/15/2028 200,000.00 02/20/2025

4.63%
201,203.13
200,897.82
100.78

4.05%
201,565.00
440.89

0.96%
667.18
Aaa/NA
AAA

3.04 0.81
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 400,000.00 --4.69%
404,156.25
403,096.54
100.94

4.09%
403,766.40
345.33

1.92%
669.86
Aaa/AAA
NA

3.32 0.82
89239TAD4 TAOT 2024-D A3 4.4 06/15/2029 60,000.00 10/10/2024

4.51%
59,996.65
59,997.40
100.48

4.05%
60,289.26
117.33

0.29%
291.86
Aaa/AAA
NA

3.62 1.22
02589BAE0 AMXCA 2024-3 A 4.65
07/15/2027 200,000.00 02/20/20254.57%
200,546.88
200,388.57
101.31

3.88%
202,616.40
413.33

0.96%
2,227.83
NA/AAA
AAA

1.70 1.60
34535VAD6 FORDO 2024-D A3 4.61
08/15/2029 120,000.00 11/19/20244.66%
119,996.15
119,996.92
101.01

3.95%
121,211.64
245.87

0.58%
1,214.72
Aaa/NA
AAA

3.79 1.43
38014AAD3 GMCAR 2024-4 A3 4.4
08/16/2029 60,000.00 10/08/20244.32%
59,988.44
59,990.94
100.59

3.94%
60,355.62
110.00

0.29%
364.68
Aaa/AAA
NA

3.79 1.18
47800DAD6 JDOT 2025 A3 4.23 09/17/2029 100,000.00 03/04/2025

5.09%
99,993.71
99,994.61
100.57

3.94%
100,565.10
188.00

0.48%
570.49
Aaa/NA
AAA

3.88 1.72
92970QAE5 WFCIT 2024-2 A 4.29
10/15/2029 110,000.00 10/17/20244.29%
109,983.65
109,987.01
100.83

3.88%
110,910.25
209.73

0.53%
923.24
Aaa/AAA
NA

3.96 1.84
89231HAD8 TAOT 2025-B A3 4.34
11/15/2029 65,000.00 04/24/20254.82%
64,996.28
64,996.69
100.77

3.93%
65,501.15
125.38

0.31%
504.46
NA/AAA
AAA

4.04 1.71
362955AD8 GMCAR 2025-1 A3 4.62
12/17/2029 80,000.00 01/09/20255.03%
79,994.06
79,995.02
101.01

3.91%
80,808.24
154.00

0.38%
813.22
Aaa/NA
AAA

4.13 1.33
58773DAD6 MBART 2025-1 A3 4.78
12/17/2029 115,000.00 01/14/20254.84%
114,975.54
114,979.40
101.11

4.04%
116,271.56
244.31

0.55%
1,292.16
Aaa/NA
AAA

4.13 1.40
44935XAD7 HART 2025-B A3 4.36
12/17/2029 80,000.00 06/03/20254.36%
79,992.78
79,993.41
100.88

3.93%
80,705.84
155.02

0.38%
712.43
NA/AAA
AAA

4.13 1.86
02582JKP4 AMXCA 2025-2 A 4.28
04/15/2030 170,000.00 05/06/20254.28%
169,996.92
169,997.21
100.98

3.89%
171,670.08
323.38

0.82%
1,672.87
NA/AAA
AAA

4.45 2.28
Total ABS 2,009,568.73 4.61%
2,015,399.13
2,013,878.77
100.86

3.99%
2,026,928.99
3,453.07

9.63%
13,050.22

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
AGENCY
3133ENZY9 FEDERAL FARM CREDIT BANKS
FUNDING CORP 3.96 07/12/2027 1,000,000.00 07/12/20223.96% 1,000,000.00
1,000,000.00

99.95 3.99%
999,470.00
11,990.00

4.75%
(530.00)
Aa1/AA+
AA+

1.70 1.60
3130B7QM9 FEDERAL HOME LOAN BANKS 3.5
09/09/2027 500,000.00 09/23/20253.63%
498,795.00
498,859.04

99.89 3.56%
499,436.50
2,430.56

2.37%
577.46
Aa1/AA+
AA+

1.86 1.77
Total Agency 1,500,000.00 3.85%
1,498,795.00
1,498,859.04

99.93 3.85%
1,498,906.50
14,420.56

7.12%

47.46 1.75

1.66 AGENCY CMBS
3137BSRE5 FHMS K-059 A2 3.12 09/25/2026 249,401.97 11/21/2024

4.55%
243,108.47
246,431.12

99.15 3.97%
247,284.05
648.45

1.17%
852.92
Aa1/AAA
AAA

0.90 0.78
3137FJEH8 FHMS K-081 A2 3.9 08/25/2028 250,000.00 11/21/2024

4.53%
244,335.94
245,768.81

99.92 3.86%
249,800.50
812.50

1.19%
4,031.69
Aa1/AA+
AAA

2.82 2.59
3137FJKE8 FHMS K-082 A2 3.92 09/25/2028 250,000.00 06/10/2025

4.27%
246,992.19
247,352.82

99.98 3.86%
249,937.50
816.67

1.19%
2,584.68
Aa1/AA+
AAA

2.90 2.63
3137FKSH0 FHMS K-086 A2 3.859
11/25/2028 150,000.00 09/18/20243.82%
150,005.86
150,004.28

99.93 3.82%
149,896.95
482.38

0.71%
(107.33)
Aaa/AA+
AA+

3.07 2.80
3137FLN91 FHMS K-091 A2 3.505
03/25/2029 300,000.00 11/14/20244.62%
287,074.22
289,943.86

98.84 3.84%
296,512.80
876.25

1.41%
6,568.94
Aa1/AAA
AA+

3.40 3.05
3137FMCR1 FHMS K-093 A2 2.982
05/25/2029 148,233.35 10/16/20244.15%
141,238.60
142,829.66

97.04 3.90%
143,841.05
368.36

0.68%
1,011.39
Aa1/AA+
AAA

3.56 3.11
3137FNAE0 FHMS K-095 A2 2.785
06/25/2029 250,000.00 03/13/20254.39%
234,707.03
236,977.08

96.21 3.91%
240,530.00
580.21

1.14%
3,552.92
Aa1/AA+
AAA

3.65 3.30
3137FPHK4 FHMS K-098 A2 2.425
08/25/2029 300,000.00 10/17/20244.26%
276,445.31
281,510.11

94.75 3.93%
284,251.80
606.25

1.35%
2,741.69
Aa1/AA+
AAA

3.82 3.48
3137FRUJ8 FHMS K-105 A2 1.872
01/25/2030 275,000.00 03/17/20254.43%
244,868.16
248,763.92

92.01 3.96%
253,015.13
429.00

1.20%
4,251.20
Aa1/AA+
AAA

4.24 3.93
Total Agency CMBS 2,172,635.32 4.37%
2,068,775.78
2,089,581.67

97.43 3.90%
2,115,069.77
5,620.06

10.04%
25,488.10

3.15 2.86
CASH
CCYUSD Receivable 763.57 -- 763.57
763.57

1.00 0.00%
763.57

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 763.57
763.57
763.57

1.00 0.00%
763.57

0.00 0.00%

0.00 0.00

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration

COMMERCIAL
PAPER
62479MES8 MUFG Bank, Ltd., New York
Branch 05/26/2026 350,000.00 09/23/20253.99%
340,758.06
342,229.23

97.75 4.06%
342,120.45

0.00 1.62%
(108.78)
P-1/A-1
NA

0.57 0.55
Total Commercial
Paper 350,000.00 3.99%
340,758.06
342,229.23

97.75 4.06%
342,120.45

0.00 1.62%
(108.78)

0.57 0.55

CORPORATE
91324PEY4 UNITEDHEALTH GROUP INC 4.6
04/15/2027 240,000.00 09/18/20243.83%
244,346.40
242,391.24
100.85

3.99%
242,035.92
490.67

1.15%
(355.32)
A2/A+
A

1.45 1.31
437076DB5 HOME DEPOT INC 4.875
06/25/2027 225,000.00 08/12/20244.25%
228,663.00
227,057.05
101.62

3.85%
228,633.98
3,839.06

1.09%
1,576.92
A2/A
A

1.65 1.47
02665WFK2 AMERICAN HONDA FINANCE
CORP 4.9 07/09/2027 200,000.00 09/18/20244.03%
204,578.00
202,752.17
101.27

4.11%
202,531.00
3,048.89

0.96%
(221.17)
A3/ANA1.69

1.58 78017FZQ9 ROYAL BANK OF CANADA 4.51
10/18/2027 250,000.00 11/05/20244.66%
249,005.00
249,337.90
100.33

4.47%
250,822.75
407.15

1.19%
1,484.85
A1/A
AA1.960.93
857477CP6 STATE STREET CORP 4.33
10/22/2027 250,000.00 11/07/20244.54%
248,537.50
249,023.19
100.93

3.83%
252,334.00
270.63

1.20%
3,310.81
Aa3/A
AA1.971.79
89115A3E0 TORONTO-DOMINION BANK

4.861 01/31/2028 225,000.00 01/28/20254.86%
225,000.00
225,000.00
101.64

4.08%
228,698.10
2,764.69

1.09%
3,698.10
A2/AAA2.25

2.08 17275RBW1 CISCO SYSTEMS INC 4.55
02/24/2028 250,000.00 03/11/20254.32%
251,557.50
251,209.74
101.44

3.89%
253,608.00
2,117.01

1.20%
2,398.26
A1/AANA2.32

2.08 00287YDY2 ABBVIE INC 4.65 03/15/2028 125,000.00 02/18/2025

4.70%
124,833.75
124,870.79
101.50

3.98%
126,877.88
742.71

0.60%
2,007.08
A3/ANA2.37

2.14 06406RBG1 BANK OF NEW YORK MELLON
CORP 3.992 06/13/2028 225,000.00 09/05/20244.31%
223,128.00
223,908.31

99.93 4.48%
224,849.03
3,443.10

1.07%
940.72
Aa3/A
AA2.621.52
46647PDG8 JPMORGAN CHASE & CO 4.851
07/25/2028 150,000.00 08/12/20244.62%
150,933.00
150,547.14
101.27

4.76%
151,907.25
1,940.40

0.72%
1,360.11
A1/A
AA2.731.63
46647PEU6 JPMORGAN CHASE & CO 4.915
01/24/2029 115,000.00 01/16/20254.92%
115,000.00
115,000.00
101.78

4.31%
117,042.52
1,522.97

0.56%
2,042.52
A1/A
AA3.232.07
06051GMK2 BANK OF AMERICA CORP 4.979
01/24/2029 150,000.00 01/17/20254.98%
150,000.00
150,000.00
101.78

4.36%
152,673.45
2,012.35

0.73%
2,673.45
A1/AAA3.23

2.07 06368MJG0 BANK OF MONTREAL 5.004
01/27/2029 100,000.00 01/22/20255.01%
100,000.00
100,000.00
101.93

4.28%
101,929.30
1,306.60

0.48%
1,929.30
A2/AAA3.24

2.07 91159HJK7 US BANCORP 4.653 02/01/2029 200,000.00 09/05/2024

4.47%
201,116.00
200,738.01
101.01

4.51%
202,012.00
2,326.50

0.96%
1,273.99
A3/A
A

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
06051GLG2 BANK OF AMERICA CORP 5.202
04/25/2029 150,000.00 08/12/20244.69%
152,550.00
151,710.07
102.42

4.58%
153,624.60
130.05

0.73%
1,914.53
A1/AAA3.48

2.31 24422EXT1 JOHN DEERE CAPITAL CORP 4.85
06/11/2029 225,000.00 08/12/20244.40%
229,338.00
228,243.04
102.78

4.01%
231,247.13
4,243.75

1.10%
3,004.08
A1/A
A+

3.61 3.23
025816EJ4 AMERICAN EXPRESS CO 4.351
07/20/2029 170,000.00 07/21/20254.35%
170,000.00
170,000.00
100.61

4.31%
171,032.58
1,972.45

0.81%
1,032.58
A2/AA3.72

2.51 89236TMK8 TOYOTA MOTOR CREDIT CORP

4.55 08/09/2029 225,000.00 08/12/20244.49%
225,567.00
225,428.52
101.61

4.08%
228,629.25
2,331.88

1.09%
3,200.73
A1/A+
A+

3.77 3.40
532457CQ9 ELI LILLY AND CO 4.2 08/14/2029 235,000.00 08/12/2024

4.22%
234,769.70
234,825.70
100.78

3.97%
236,841.70
2,111.08

1.12%
2,016.00
Aa3/A+
NA

3.79 3.37
26442CAY0 DUKE ENERGY CAROLINAS LLC

2.45 08/15/2029 250,000.00 12/18/20244.72%
226,517.50
230,896.30

94.35 4.08%
235,864.00
1,293.06

1.12%
4,967.70
Aa3/A
NA

3.79 3.54
61748UAK8 MORGAN STANLEY 4.133
10/18/2029 155,000.00 10/17/20254.25%
155,019.50
155,019.32

99.77 4.40%
154,637.77
160.15

0.73%
(381.56)
A1/AA+3.96

2.75 38141GD27 GOLDMAN SACHS GROUP INC

4.153 10/21/2029 105,000.00 10/14/20254.37%
105,000.00
105,000.00

99.70 4.43%
104,689.31
121.13

0.50%
(310.70)
A2/BBB+
A

3.97 2.76
14913UAU4 CATERPILLAR FINANCIAL
SERVICES CORP 4.7 11/15/2029 250,000.00 11/12/20244.74% 249,592.50
249,670.83
102.60

4.00%
256,499.75
5,418.06

1.22%
6,828.92
A2/A
A+

4.04 3.58
89236TNA9 TOYOTA MOTOR CREDIT CORP

4.95 01/09/2030 170,000.00 01/06/20255.00%
169,636.20
169,695.17
103.07

4.14%
175,216.11
2,618.00

0.83%
5,520.94
A1/A+
A+

4.19 3.70
63743HFX5

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.95 02/07/2030
250,000.00 02/20/2025

4.90%
250,550.00
250,471.87
102.92

4.19%
257,293.00
2,887.50

1.22%
6,821.13
A2/NA
A

4.27 3.71
571748CA8

MARSH & MCLENNAN
COMPANIES INC 4.65
03/15/2030
250,000.00 03/24/2025

4.67%
249,755.00
249,784.82
101.65

4.23%
254,135.50
1,485.42

1.21%
4,350.68
A3/AA4.37

3.83 931142FN8 WALMART INC 4.35 04/28/2030 185,000.00 04/23/2025

4.39%
184,679.95
184,712.73
101.47

3.99%
187,714.69

67.06 0.89%
3,001.96
Aa2/AA
AA

4.49 3.98
69371RT71 PACCAR FINANCIAL CORP 4.55
05/08/2030 230,000.00 05/05/20254.59%
229,643.50
229,678.06
101.83

4.10%
234,214.29
5,029.01

1.11%
4,536.23
A1/A+
NA

4.52 3.97
Total Corporate 5,555,000.00 4.53%
5,549,317.00
5,546,971.96
101.16

4.17%
5,617,594.82
56,101.32

26.68%
70,622.86

3.19 2.59

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
X9USDDGCM DREYFUS GVT CM INST 121,756.39 --

3.94%
121,756.39
121,756.39

1.00 3.94%
121,756.39

0.00 0.58%

0.00 Aaa/
AAAm
NA

0.00 0.00
Total Money
Market Fund 121,756.39 3.94%
121,756.39
121,756.39

1.00 3.94%
121,756.39

0.00 0.58%

0.00 0.00

0.00 MUNICIPAL
BONDS
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029 205,000.00 10/30/20244.38%
206,080.35
205,854.91
102.55

3.76%
210,229.76
2,306.25

1.00%
4,374.84
Aa2/AAAA3.75

3.39 Total Municipal
Bonds 205,000.00 4.38%
206,080.35
205,854.91
102.55

3.76%
210,229.76
2,306.25

1.00%
4,374.84

3.75 3.39

SUPRANATIONAL
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
350,000.00 12/13/2024

4.29%
343,689.50
344,833.61
100.60

3.71%
352,100.35
563.50

1.67%
7,266.74
Aaa/AAA
NA

3.96 3.63
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
125,000.00 03/14/2025

4.20%
124,553.75
124,608.98
101.58

3.73%
126,975.13
587.24

0.60%
2,366.14
Aaa/AAA
NA

4.38 3.96
Total
Supranational 475,000.00 4.27%
468,243.25
469,442.59
100.86

3.72%
479,075.48
1,150.74

2.28%
9,632.88

4.07 3.72

US TREASURY
91282CJC6 UNITED STATES TREASURY 4.625
10/15/2026 375,000.00 08/30/20243.90%
380,507.81
377,470.00
100.82

3.73%
378,086.25
810.01

1.80%
616.25
Aa1/AA+
AA+

0.96 0.92
91282CKE0 UNITED STATES TREASURY 4.25
03/15/2027 350,000.00 08/20/20243.86%
353,322.27
351,771.17
100.77

3.66%
352,706.90
1,931.28

1.68%
935.73
Aa1/AA+
AA+

1.37 1.31
91282CKZ3 UNITED STATES TREASURY 4.375
07/15/2027 375,000.00 08/08/20243.91%
379,804.69
377,788.52
101.22

3.62%
379,585.13
4,859.46

1.80%
1,796.61
Aa1/AA+
AA+

1.70 1.61
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 350,000.00 10/31/20244.17%
349,521.48
349,685.79
100.94

3.61%
353,294.90
1,269.23

1.68%
3,609.11
Aa1/AA+
AA+

1.91 1.81
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 375,000.00 08/08/20243.87%
376,552.73
376,016.03
100.89

3.60%
378,339.75
2,569.06

1.80%
2,323.72
Aa1/AA+
AA+

2.33 2.19
91282CHK0 UNITED STATES TREASURY 4.0
06/30/2028 350,000.00 08/20/20243.76%
353,007.81
352,074.94
101.02

3.59%
353,581.90
4,717.39

1.68%
1,506.96
Aa1/AA+
AA+

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 375,000.00 08/08/20243.85%
389,765.63
385,471.74
103.55

3.61%
388,330.13

50.50 1.84%
2,858.39
Aa1/AA+
AA+

3.00 2.77
91282CKD2 UNITED STATES TREASURY 4.25
02/28/2029 375,000.00 11/26/20244.21%
375,585.94
375,458.12
101.94

3.62%
382,265.63
2,729.63

1.82%
6,807.51
Aa1/AA+
AA+

3.33 3.06
91282CKG5 UNITED STATES TREASURY 4.125
03/31/2029 350,000.00 11/18/20244.31%
347,498.05
348,043.04
101.57

3.63%
355,496.05
1,269.23

1.69%
7,453.01
Aa1/AA+
AA+

3.41 3.15
91282CKP5 UNITED STATES TREASURY 4.625
04/30/2029 375,000.00 08/08/20243.84%
387,583.01
384,307.78
103.23

3.63%
387,099.75

47.91 1.84%
2,791.97
Aa1/AA+
AA+

3.50 3.21
91282CEV9 UNITED STATES TREASURY 3.25
06/30/2029 350,000.00 11/18/20244.31%
334,591.80
337,766.77

98.65 3.65%
345,283.05
3,832.88

1.64%
7,516.28
Aa1/AA+
AA+

3.66 3.38
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 350,000.00 08/20/20243.70%
354,634.77
353,512.67
101.20

3.65%
354,210.85
3,538.04

1.68%
698.18
Aa1/AA+
AA+

3.75 3.42
91282CLK5 UNITED STATES TREASURY 3.625
08/31/2029 400,000.00 --3.60%
400,687.50
400,423.60

99.88 3.66%
399,515.60
2,483.43

1.90%
(908.00)
Aa1/AA+
AA+

3.83 3.52
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029 400,000.00 --4.09%
389,617.18
391,664.54

99.43 3.66%
397,703.20
1,230.77

1.89%
6,038.66
Aa1/AA+
AA+

3.91 3.61
91282CLR0 UNITED STATES TREASURY 4.125
10/31/2029 400,000.00 --4.33%
396,388.68
397,055.62
101.69

3.67%
406,765.60

45.58 1.93%
9,709.98
Aa1/AA+
AA+

4.00 3.66
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 400,000.00 12/11/20244.09%
400,546.88
400,449.20
101.71

3.67%
406,843.60
6,942.62

1.93%
6,394.40
Aa1/AA+
AA+

4.08 3.66
91282CMD0 UNITED STATES TREASURY 4.375
12/31/2029 400,000.00 --4.45%
398,679.69
398,890.53
102.68

3.67%
410,734.40
5,896.74

1.95%
11,843.87
Aa1/AA+
AA+

4.17 3.73
91282CMU2 UNITED STATES TREASURY 4.0
03/31/2030 300,000.00 04/07/20253.75%
303,375.00
302,990.72
101.27

3.69%
303,796.80
1,054.95

1.44%
806.08
Aa1/AA+
AA+

4.41 4.00
91282CMZ1 UNITED STATES TREASURY 3.875
04/30/2030 500,000.00 09/16/20253.57%
506,425.78
506,254.27
100.77

3.69%
503,847.50

53.52 2.39%
(2,406.77)
Aa1/AA+
AA+

4.50 4.09
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030 350,000.00 06/09/20254.08%
348,742.19
348,841.93
101.30

3.69%
354,552.80
5,890.71

1.68%
5,710.87
Aa1/AA+
AA+

4.58 4.08
91282CNK3 UNITED STATES TREASURY 3.875
06/30/2030 325,000.00 07/29/20253.95%
323,933.59
323,989.40
100.76

3.69%
327,475.53
4,243.55

1.56%
3,486.12
Aa1/AA+
AA+

4.66 4.18
91282CNN7 UNITED STATES TREASURY 3.875
07/31/2030 225,000.00 08/26/20253.77%
226,081.05
226,041.39
100.75

3.70%
226,678.73
2,203.38

1.08%
637.34
Aa1/AA+
AA+

4.75 4.26
91282CNX5 UNITED STATES TREASURY 3.625
08/31/2030 500,000.00 09/16/20253.58%
500,937.50
500,914.18

99.65 3.70%
498,242.00
3,104.28

2.37%
(2,672.18)
Aa1/AA+
AA+

4.83 4.36
Total US Treasury 8,550,000.00 3.95%
8,577,791.03
8,566,881.94
101.12

3.66%
8,644,436.03
60,774.15

41.05%
77,554.08

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Portfolio 20,939,724.01 4.21%
20,847,679.56
20,856,220.08
100.02

3.87%
21,056,881.75
143,826.15
100.00%
200,661.67

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 10/02/2025 X9USDDGCM 1,695.53 DREYFUS GVT CM INST 1.000 4.03% (1,695.53) 0.00 (1,695.53) 0.00 Purchase 10/15/2025 X9USDDGCM 7,151.64 DREYFUS GVT CM INST 1.000 4.05% (7,151.64) 0.00 (7,151.64) 0.00 Purchase 10/15/2025 X9USDDGCM 19,087.18 DREYFUS GVT CM INST 1.000 4.05% (19,087.18) 0.00 (19,087.18) 0.00 Purchase 10/16/2025 X9USDDGCM 7,311.00 DREYFUS GVT CM INST 1.000 4.05% (7,311.00) 0.00 (7,311.00) 0.00 Purchase 10/20/2025 X9USDDGCM 6,312.83 DREYFUS GVT CM INST 1.000 4.04% (6,312.83) 0.00 (6,312.83) 0.00 Purchase 10/21/2025 38141GD27 105,000.00 GOLDMAN SACHS GROUP INC 4.153 10/21/2029 100.000 4.37% (105,000.00) 0.00 (105,000.00) 0.00 Purchase 10/22/2025 61748UAK8 80,000.00 MORGAN STANLEY 4.133 10/18/2029 100.000 4.36% (80,000.00) 0.00 (80,000.00) 0.00 Purchase 10/22/2025 61748UAK8 75,000.00 MORGAN STANLEY 4.133 10/18/2029 100.026 4.12% (75,019.50) 0.00 (75,019.50) 0.00 Purchase 10/27/2025 X9USDDGCM 176.91 DREYFUS GVT CM INST 1.000 4.02% (176.91) 0.00 (176.91) 0.00 Purchase 10/27/2025 X9USDDGCM 11,250.00 DREYFUS GVT CM INST 1.000 4.02% (11,250.00) 0.00 (11,250.00) 0.00 Purchase 10/28/2025 X9USDDGCM 4,023.75 DREYFUS GVT CM INST 1.000 4.03% (4,023.75) 0.00 (4,023.75) 0.00 Purchase 10/28/2025 X9USDDGCM 514.31 DREYFUS GVT CM INST 1.000 4.03% (514.31) 0.00 (514.31) 0.00 Purchase 10/31/2025 X9USDDGCM 35,750.01 DREYFUS GVT CM INST 1.000 3.94% (35,750.01) 0.00 (35,750.01) 0.00 Total Purchase 353,273.16 (353,292.66) 0.00 (353,292.66) 0.00 TOTAL
ACQUISITIONS 353,273.16 (353,292.66) 0.00 (353,292.66) 0.00

DISPOSITIONS
Sale 10/21/2025 X9USDDGCM (105,000.00) DREYFUS GVT CM INST 1.000 4.04% 105,000.00 0.00 105,000.00 0.00 Sale 10/22/2025 X9USDDGCM (93,216.67) DREYFUS GVT CM INST 1.000 4.02% 93,216.67 0.00 93,216.67 0.00 Sale 10/22/2025 X9USDDGCM (56,390.33) DREYFUS GVT CM INST 1.000 4.02% 56,390.33 0.00 56,390.33 0.00 Total Sale (254,607.00) 254,607.00 0.00 254,607.00 0.00 TOTAL
DISPOSITIONS (254,607.00) 254,607.00 0.00 254,607.00 0.00 OTHER

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 10/01/2025 3137FLN91 0.00 FHMS K-091 A2 3.505
03/25/2029 4.62% 876.25 0.00 876.25 0.00
Coupon 10/01/2025 3137BSRE5 0.00 FHMS K-059 A2 3.12
09/25/2026 4.55% 649.78 0.00 649.78 0.00
Coupon 10/01/2025 3137FJEH8 0.00 FHMS K-081 A2 3.9
08/25/2028 4.53% 812.50 0.00 812.50 0.00
Coupon 10/01/2025 3137FRUJ8 0.00 FHMS K-105 A2 1.872
01/25/2030 4.43% 429.00 0.00 429.00 0.00
Coupon 10/01/2025 3137FNAE0 0.00 FHMS K-095 A2 2.785
06/25/2029 4.39% 580.21 0.00 580.21 0.00
Coupon 10/01/2025 3137FJKE8 0.00 FHMS K-082 A2 3.92
09/25/2028 4.27% 816.67 0.00 816.67 0.00
Coupon 10/01/2025 3137FPHK4 0.00 FHMS K-098 A2 2.425
08/25/2029 4.26% 606.25 0.00 606.25 0.00
Coupon 10/01/2025 3137FMCR1 0.00 FHMS K-093 A2 2.982
05/25/2029 4.15% 368.80 0.00 368.80 0.00
Coupon 10/01/2025 3137FKSH0 0.00 FHMS K-086 A2 3.859
11/25/2028 3.82% 482.37 0.00 482.37 0.00
Coupon 10/15/2025 47800DAD6 0.00 JDOT 2025 A3 4.23
09/17/2029 5.09% 352.50 0.00 352.50 0.00
Coupon 10/15/2025 58773DAD6 0.00 MBART 2025-1 A3 4.78
12/17/2029 4.84% 458.08 0.00 458.08 0.00
Coupon 10/15/2025 89231HAD8 0.00 TAOT 2025-B A3 4.34
11/15/2029 4.82% 235.08 0.00 235.08 0.00
Coupon 10/15/2025 34535VAD6 0.00 FORDO 2024-D A3 4.61
08/15/2029 4.66% 461.00 0.00 461.00 0.00
Coupon 10/15/2025 47800RAD5 0.00 JDOT 2024 A3 4.96
11/15/2028 4.63% 826.67 0.00 826.67 0.00
Coupon 10/15/2025 891940AC2 0.00 TAOT 2023-A A3 4.63
09/15/2027 4.63% 276.72 0.00 276.72 0.00
Coupon 10/15/2025 02589BAE0 0.00 AMXCA 2024-3 A 4.65
07/15/2027 4.57% 775.00 0.00 775.00 0.00
Coupon 10/15/2025 89239TAD4 0.00 TAOT 2024-D A3 4.4
06/15/2029 4.51% 220.00 0.00 220.00 0.00
Item 7.4
Tuesday, December 02, 2025 36 of 239
CONFIDENTIAL | 13
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 10/15/2025 44935XAD7 0.00 HART 2025-B A3 4.36
12/17/2029 4.36% 290.67 0.00 290.67 0.00
Coupon 10/15/2025 92970QAE5 0.00 WFCIT 2024-2 A 4.29
10/15/2029 4.29% 393.25 0.00 393.25 0.00
Coupon 10/15/2025 02582JKP4 0.00 AMXCA 2025-2 A 4.28
04/15/2030 4.28% 606.33 0.00 606.33 0.00
Coupon 10/15/2025 91282CJC6 0.00 UNITED STATES TREASURY

4.625 10/15/2026 3.90% 8,671.88 0.00 8,671.88 0.00
Coupon 10/15/2025 91324PEY4 0.00 UNITEDHEALTH GROUP
INC 4.6 04/15/2027 3.83% 5,520.00 0.00 5,520.00 0.00
Coupon 10/16/2025 362955AD8 0.00 GMCAR 2025-1 A3 4.62
12/17/2029 5.03% 308.00 0.00 308.00 0.00
Coupon 10/16/2025 38014AAD3 0.00 GMCAR 2024-4 A3 4.4
08/16/2029 4.32% 220.00 0.00 220.00 0.00
Coupon 10/16/2025 459058LN1 0.00

INTERNATIONAL BANK

FOR RECONSTRUCTION
AND DEVELOPM 3.875
10/16/2029

4.29% 6,783.00 0.00 6,783.00 0.00
Coupon 10/18/2025 78017FZQ9 0.00 ROYAL BANK OF CANADA

4.51 10/18/2027 4.66% 5,637.50 0.00 5,637.50 0.00
Coupon 10/20/2025 362962AD4 0.00 GMALT 2025-2 A3 4.58
05/22/2028 4.84% 362.58 0.00 362.58 0.00
Coupon 10/20/2025 379965AD8 0.00 GMALT 2025-3 A3 4.17
08/21/2028 4.18% 312.75 0.00 312.75 0.00
Coupon 10/22/2025 857477CP6 0.00 STATE STREET CORP 4.33 10/22/2027 4.54% 5,412.50 0.00 5,412.50 0.00
Coupon 10/25/2025 06051GLG2 0.00 BANK OF AMERICA CORP

5.202 04/25/2029 4.69% 3,901.50 0.00 3,901.50 0.00
Coupon 10/25/2025 096919AD7 0.00 BMWOT 2024-A A3 5.18
02/26/2029 4.69% 1,726.67 0.00 1,726.67 0.00
Coupon 10/28/2025 931142FN8 0.00 WALMART INC 4.35
04/28/2030 4.39% 4,023.75 0.00 4,023.75 0.00
Coupon 10/31/2025 91282CLR0 0.00 UNITED STATES TREASURY

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 10/31/2025 91282CJF9 0.00 UNITED STATES TREASURY

4.875 10/31/2028 3.85% 9,140.63 0.00 9,140.63 0.00
Coupon 10/31/2025 91282CKP5 0.00 UNITED STATES TREASURY

4.625 04/30/2029 3.84% 8,671.88 0.00 8,671.88 0.00
Coupon 10/31/2025 91282CMZ1 0.00 UNITED STATES TREASURY

3.875 04/30/2030 3.57% 9,687.50 0.00 9,687.50 0.00
Total Coupon 0.00 89,147.27 0.00 89,147.27 0.00
Dividend 10/31/2025 X9USDDGCM 0.00 DREYFUS GVT CM INST 3.94% 763.60 0.00 763.60 0.00 Total Dividend 0.00 763.60 0.00 763.60 0.00
Principal Paydown 10/01/2025 3137BSRE5 514.31 FHMS K-059 A2 3.12 09/25/2026 4.55% 514.31 -- 514.31 0.00
Principal Paydown 10/01/2025 3137FMCR1 176.91 FHMS K-093 A2 2.982 05/25/2029 4.15% 176.91 -- 176.91 (0.00)
Principal Paydown 10/15/2025 891940AC2 7,151.64 TAOT 2023-A A3 4.63 09/15/2027 4.63% 7,151.64 -- 7,151.64 0.00
Total Principal
Paydown 7,842.86 7,842.86 -- 7,842.86 (0.00)

TOTAL OTHER
TRANSACTIONS 7,842.86 97,753.73 0.00 97,753.73 (0.00)
Item 7.4
Tuesday, December 02, 2025 38 of 239
CONFIDENTIAL | 15
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income

CASH & EQUIVALENTS
CCYUSD Cash

0.00 0.00

0.00 0.00
CCYUSD Receivable
763.57
1,695.52

0.00 0.00
763.57

0.00 0.00

0.00 X9USDDGCM DREYFUS GVT CM INST
121,756.39
283,090.23
93,273.16
(254,607.00)
121,756.39

0.00 1,695.53

0.00 0.00

0.00 1,695.53
1,695.53
Total Cash & Equivalents 122,519.96
284,785.75
93,273.16
(254,607.00)
122,519.96

0.00 1,695.53

0.00 0.00

0.00 1,695.53 1,695.53

FIXED INCOME
00287YDY2 ABBVIE INC 4.65 03/15/2028
02/18/2025
02/26/2025
125,000.00
124,866.16

0.00 0.00
124,870.79
258.33

0.00 742.71
484.38

4.63 0.00

4.63 489.01
489.01
025816EJ4 AMERICAN EXPRESS CO 4.351
07/20/2029
07/21/2025
07/25/2025
170,000.00
170,000.00

0.00 0.00
170,000.00
1,356.06

0.00 1,972.45
616.39

0.00 0.00

0.00 616.39
616.39
02582JKP4 AMXCA 2025-2 A 4.28
04/15/2030
05/06/2025
05/13/2025
170,000.00
169,997.16

0.00 0.00
169,997.21
323.38
606.33
323.38
606.33

0.05 0.00

0.05 606.38
606.38
02589BAE0 AMXCA 2024-3 A 4.65
07/15/2027
02/20/2025
02/21/2025
200,000.00
200,407.97

0.00 0.00
200,388.57
413.33
775.00
413.33
775.00

0.00 0.00
202,752.17
2,232.22

0.00 3,048.89
816.67

0.00 (138.73)
(138.73)
677.94
677.94
06051GLG2 BANK OF AMERICA CORP

5.202 04/25/2029
08/12/2024
08/13/2024
150,000.00
151,768.58

0.00 0.00
151,710.07
3,381.30
3,901.50
130.05
650.25

0.00 (58.51)
(58.51)
591.74
591.74
06051GMK2 BANK OF AMERICA CORP

4.979 01/24/2029
01/17/2025
01/24/2025
150,000.00
150,000.00

0.00 0.00
150,000.00
1,389.97

0.00 2,012.35
622.38

0.00 0.00

0.00 622.38
622.38
06368MJG0 BANK OF MONTREAL 5.004
01/27/2029
01/22/2025
01/27/2025
100,000.00
100,000.00

0.00 0.00
100,000.00
889.60

0.00 1,306.60
417.00

0.00 0.00

0.00 417.00
417.00
06406RBG1 BANK OF NEW YORK MELLON
CORP 3.992 06/13/2028
09/05/2024
09/06/2024
225,000.00
223,850.85

0.00 0.00
223,908.31
2,694.60

0.00 3,443.10
748.50

57.46 0.00

57.46 805.96
805.96
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 400,000.00
403,206.24

0.00 0.00
403,096.54
345.33
1,726.67
345.33
1,726.67

0.00 (109.71)
(109.71)
1,616.96
1,616.96
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029
10/30/2024
11/05/2024
205,000.00
205,874.27

0.00 0.00
205,854.91
1,537.50

0.00 2,306.25
768.75

0.00 (19.36)
(19.36)
749.39
749.39
14913UAU4

CATERPILLAR FINANCIAL
SERVICES CORP 4.7
11/15/2029
11/12/2024
11/15/2024
250,000.00
249,663.91

0.00 0.00
249,670.83
4,438.89

0.00 5,418.06
979.17

6.92 0.00

6.92 986.08
986.08
17275RBW1 CISCO SYSTEMS INC 4.55
02/24/2028
03/11/2025
03/12/2025
250,000.00
251,255.81

0.00 0.00
251,209.74
1,169.10

0.00 2,117.01
947.92

4.85 06/11/2029
08/12/2024
08/13/2024
225,000.00
228,319.32

0.00 0.00
228,243.04
3,334.38

0.00 4,243.75
909.38

0.00 (76.28)
(76.28)
833.10
833.10
26442CAY0 DUKE ENERGY CAROLINAS
LLC 2.45 08/15/2029
12/18/2024
12/19/2024
250,000.00
230,468.09

0.00 0.00
230,896.30
782.64

0.00 1,293.06
510.42
428.21

0.00 428.21
938.63
938.63
3130B7QM9 FEDERAL HOME LOAN BANKS

3.5 09/09/2027
09/23/2025
09/24/2025
500,000.00
498,806.80

0.00 0.00
498,859.04
972.22

0.00 2,430.56
1,458.33

52.24 0.00

52.24 1,510.58
1,510.58
3133ENZY9

FEDERAL FARM CREDIT
BANKS FUNDING CORP 3.96
07/12/2027
07/12/2022
07/12/2022
1,000,000.00
1,000,000.00

0.00 0.00
1,000,000.00
8,690.00

0.00 11,990.00
3,300.00

0.00 0.00

0.00 3,300.00
3,300.00
3137BSRE5 FHMS K-059 A2 3.12
09/25/2026
11/21/2024
11/26/2024
249,401.97
246,635.73

0.00 (514.31)
246,431.12
649.78
649.78
648.45
648.44
309.70

0.00 309.70
958.14
958.14
3137FJEH8 FHMS K-081 A2 3.9
08/25/2028
11/21/2024
11/26/2024
250,000.00
245,638.17

0.00 0.00
245,768.81
812.50
812.50
812.50
812.50
130.64

0.00 130.64
943.14
943.14
3137FJKE8 FHMS K-082 A2 3.92
09/25/2028
06/10/2025
06/13/2025
250,000.00
247,273.53

0.00 0.00
247,352.82
816.67
816.67
816.67
816.67

79.29 0.00

79.29 895.96
895.96
3137FKSH0 FHMS K-086 A2 3.859
11/25/2028
09/18/2024
09/23/2024
150,000.00
150,004.40

0.00 0.00
150,004.28
482.38
482.37
482.38
482.37

0.00 (0.12)
(0.12)
482.25
482.25
3137FLN91 FHMS K-091 A2 3.505
03/25/2029
11/14/2024
11/19/2024
300,000.00
289,687.49

0.00 0.00
289,943.86
876.25
876.25
876.25
876.25
256.37

0.00 (176.91)
142,829.66
368.80
368.80
368.36
368.36
137.78

0.00 137.78
506.14
506.14
3137FNAE0 FHMS K-095 A2 2.785
06/25/2029
03/13/2025
03/18/2025
250,000.00
236,668.43

0.00 0.00
236,977.08
580.21
580.21
580.21
580.21
308.65

0.00 308.65
888.86
888.86
3137FPHK4 FHMS K-098 A2 2.425
08/25/2029
10/17/2024
10/22/2024
300,000.00
281,091.42

0.00 0.00
281,510.11
606.25
606.25
606.25
606.25
418.69

0.00 418.69
1,024.94
1,024.94
3137FRUJ8 FHMS K-105 A2 1.872
01/25/2030
03/17/2025
03/20/2025
275,000.00
248,229.55

0.00 0.00
248,763.92
429.00
429.00
429.00
429.00
534.37

0.00 534.37
963.37
963.37
34535VAD6 FORDO 2024-D A3 4.61
08/15/2029
11/19/2024
11/22/2024
120,000.00
119,996.85

0.00 0.00
119,996.92
245.87
461.00
245.87
461.00

0.07 0.00

0.07 461.07
461.07
362955AD8 GMCAR 2025-1 A3 4.62
12/17/2029
01/09/2025
01/15/2025
80,000.00
79,994.92

0.00 0.00
79,995.02
154.00
308.00
154.00
308.00

0.10 0.00

0.10 308.10
308.10
362962AD4 GMALT 2025-2 A3 4.58
05/22/2028
05/20/2025
05/29/2025
95,000.00
94,998.60

0.00 0.00
94,998.65
132.95
362.58
132.95
362.58

0.04 0.00

0.04 362.62
362.62
379965AD8 GMALT 2025-3 A3 4.17
08/21/2028
08/05/2025
08/13/2025
90,000.00
89,986.93

0.00 0.00
89,987.31
114.68
312.75
114.68
312.75

0.38 0.00

0.38 313.13
313.13
38014AAD3 GMCAR 2024-4 A3 4.4
08/16/2029
10/08/2024
10/16/2024
60,000.00
59,990.73

0.00 0.00
59,990.94
110.00
220.00
110.00
220.00

0.20 0.00

0.00 105,000.00

0.00 0.00
121.13
121.13

0.00 0.00

0.00 121.13
121.13
437076DB5 HOME DEPOT INC 4.875
06/25/2027
08/12/2024
08/13/2024
225,000.00
227,168.93

0.00 0.00
227,057.05
2,925.00

0.00 3,839.06
914.06

0.00 (111.87)
(111.87)
802.19
802.19
44935XAD7 HART 2025-B A3 4.36
12/17/2029
06/03/2025
06/11/2025
80,000.00
79,993.27

0.00 0.00
79,993.41
155.02
290.67
155.02
290.67

0.14 0.00

0.14 290.81
290.81
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
12/13/2024
12/16/2024
350,000.00
344,722.78

0.00 0.00
344,833.61
6,216.00
6,783.00
563.50
1,130.50
110.84

0.00 110.84
1,241.34
1,241.34
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
03/14/2025
03/20/2025
125,000.00
124,601.41

0.00 0.00
124,608.98
157.55

0.00 587.24
429.69

7.58 0.00

7.58 437.26
437.26
46647PDG8 JPMORGAN CHASE & CO

4.851 07/25/2028
08/12/2024
08/13/2024
150,000.00
150,574.02

0.00 0.00
150,547.14
1,334.03

0.00 1,940.40
606.38

0.00 (26.88)
(26.88)
579.49
579.49
46647PEU6 JPMORGAN CHASE & CO

4.915 01/24/2029
01/16/2025
01/24/2025
115,000.00
115,000.00

0.00 0.00
115,000.00
1,051.95

0.00 1,522.97
471.02

0.00 0.00

0.00 471.02
471.02
47800DAD6 JDOT 2025 A3 4.23
09/17/2029
03/04/2025
03/11/2025
100,000.00
99,994.49

0.00 0.00
99,994.61
188.00
352.50
188.00
352.50

0.12 0.00

0.12 352.62
352.62
47800RAD5 JDOT 2024 A3 4.96
11/15/2028
02/20/2025
02/21/2025
200,000.00
200,935.23

0.00 0.00
200,897.82
440.89
826.67
440.89
826.67

0.00 0.00
234,825.70
1,288.58

0.00 2,111.08
822.50

3.91 0.00

3.91 826.41
826.41
571748CA8

MARSH & MCLENNAN
COMPANIES INC 4.65
03/15/2030
03/24/2025
03/25/2025
250,000.00
249,780.63

0.00 0.00
249,784.82
516.67

0.00 1,485.42
968.75

4.18 0.00

4.18 972.93
972.93
58773DAD6 MBART 2025-1 A3 4.78
12/17/2029
01/14/2025
01/23/2025
115,000.00
114,978.97

0.00 0.00
114,979.40
244.31
458.08
244.31
458.08

0.42 0.00

0.42 458.50
458.50
61748UAK8 MORGAN STANLEY 4.133
10/18/2029
10/17/2025
10/22/2025
155,000.00

0.00 155,019.50

0.00 155,019.32

0.00 0.00
160.15
160.15

0.00 (0.18)
(0.18)
159.98
159.98
62479MES8 MUFG Bank, Ltd., New York
Branch 05/26/2026
09/23/2025
09/23/2025
350,000.00
341,059.84

0.00 0.00
342,229.23

0.00 0.00

0.00 0.00
1,169.39

0.00 1,169.39
1,169.39
1,169.39
63743HFX5

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.95 02/07/2030
02/20/2025
02/21/2025
250,000.00
250,481.44

0.00 0.00
250,471.87
1,856.25

0.00 2,887.50
1,031.25

0.00 (9.57)
(9.57)
1,021.68
1,021.68
69371RT71 PACCAR FINANCIAL CORP

4.55 05/08/2030
05/05/2025
05/08/2025
230,000.00
229,672.00

0.00 0.00
229,678.06
4,156.93

0.00 5,029.01
872.08

6.05 0.00

6.05 878.14
878.14
78017FZQ9 ROYAL BANK OF CANADA

4.51 10/18/2027
11/05/2024
11/06/2024
250,000.00
249,309.23

0.00 0.00
249,337.90
5,105.07
5,637.50
407.15
939.58

28.67 0.00

28.67 968.25
968.25
857477CP6 STATE STREET CORP 4.33
10/22/2027
11/07/2024
11/08/2024
250,000.00
248,981.13

0.00 0.00
249,023.19
4,781.04
5,412.50
270.63
902.08

42.06 0.00

4.861 01/31/2028
01/28/2025
01/31/2025
225,000.00
225,000.00

0.00 0.00
225,000.00
1,853.26

0.00 2,764.69
911.44

0.00 0.00

0.00 911.44
911.44
891940AC2 TAOT 2023-A A3 4.63
09/15/2027
11/14/2024
11/15/2024
64,568.73
71,735.56

0.00 (7,151.64)
64,581.29
147.58
276.72
132.87
262.00

0.00 (2.63)
(2.63)
259.37
259.37
89231HAD8 TAOT 2025-B A3 4.34
11/15/2029
04/24/2025
04/30/2025
65,000.00
64,996.63

0.00 0.00
64,996.69
125.38
235.08
125.38
235.08

0.07 0.00

0.07 235.15
235.15
89236TMK8 TOYOTA MOTOR CREDIT
CORP 4.55 08/09/2029
08/12/2024
08/13/2024
225,000.00
225,438.16

0.00 0.00
225,428.52
1,478.75

0.00 2,331.88
853.13

0.00 (9.65)
(9.65)
843.48
843.48
89236TNA9 TOYOTA MOTOR CREDIT
CORP 4.95 01/09/2030
01/06/2025
01/09/2025
170,000.00
169,689.00

0.00 0.00
169,695.17
1,916.75

0.00 2,618.00
701.25

6.18 0.00

6.18 707.43
707.43
89239TAD4 TAOT 2024-D A3 4.4
06/15/2029
10/10/2024
10/17/2024
60,000.00
59,997.34

0.00 0.00
59,997.40
117.33
220.00
117.33
220.00

0.06 0.00

0.06 220.06
220.06
91159HJK7 US BANCORP 4.653
02/01/2029
09/05/2024
09/06/2024
200,000.00
200,765.85

0.00 0.00
200,738.01
1,551.00

0.00 2,326.50
775.50

0.00 (27.83)
(27.83)
747.67
747.67
91282CEV9 UNITED STATES TREASURY

3.25 06/30/2029
11/18/2024
11/19/2024
350,000.00
337,483.12

0.00 0.00
337,766.77
2,874.66

0.00 3,832.88
958.22
283.64

0.00 283.64
1,241.86
1,241.86
91282CFM8 UNITED STATES TREASURY

4.125 09/30/2027
10/31/2024
11/01/2024
350,000.00
349,671.83

0.00 0.00
349,685.79

39.66 0.00
1,269.23
1,229.57

13.96 0.00

0.00 0.00
376,016.03
1,284.53

0.00 2,569.06
1,284.53

0.00 (37.06)
(37.06)
1,247.48
1,247.48
91282CHK0 UNITED STATES TREASURY 4.0
06/30/2028
08/20/2024
08/21/2024
350,000.00
352,141.12

0.00 0.00
352,074.94
3,538.04

0.00 4,717.39
1,179.35

0.00 (66.18)
(66.18)
1,113.17
1,113.17
91282CJC6 UNITED STATES TREASURY

4.625 10/15/2026
08/30/2024
08/30/2024
375,000.00
377,690.03

0.00 0.00
377,470.00
8,008.45
8,671.88
810.01
1,473.44

0.00 (220.03)
(220.03)
1,253.41
1,253.41
91282CJF9 UNITED STATES TREASURY

4.875 10/31/2028
08/08/2024
08/09/2024
375,000.00
385,768.20

0.00 0.00
385,471.74
7,650.31
9,140.63

50.50 1,540.83

0.00 (296.46)
(296.46)
1,244.36
1,244.36
91282CKD2 UNITED STATES TREASURY

4.25 02/28/2029
11/26/2024
11/27/2024
375,000.00
375,469.81

0.00 0.00
375,458.12
1,364.81

0.00 2,729.63
1,364.81

0.00 (11.69)
(11.69)
1,353.13
1,353.13
91282CKE0 UNITED STATES TREASURY

4.25 03/15/2027
08/20/2024
08/21/2024
350,000.00
351,881.20

0.00 0.00
351,771.17
657.46

0.00 1,931.28
1,273.83

0.00 (110.03)
(110.03)
1,163.79
1,163.79
91282CKG5 UNITED STATES TREASURY

4.125 03/31/2029
11/18/2024
11/19/2024
350,000.00
347,994.36

0.00 0.00
348,043.04

39.66 0.00
1,269.23
1,229.57

48.69 0.00

48.69 1,278.26
1,278.26
91282CKP5 UNITED STATES TREASURY

4.625 04/30/2029
08/08/2024
08/09/2024
375,000.00
384,533.91

0.00 0.00
384,307.78
7,257.98
8,671.88

47.91 1,461.81

0.00 (226.13)
(226.13)
1,235.68
1,235.68
91282CKZ3 UNITED STATES TREASURY

4.375 07/15/2027
08/08/2024
08/09/2024
375,000.00
377,927.72

0.00 0.00
377,788.52
3,477.41

0.00 4,859.46
1,382.05

0.00 0.00
353,512.67
2,358.70

0.00 3,538.04
1,179.35

0.00 (79.60)
(79.60)
1,099.75
1,099.75
91282CLK5 UNITED STATES TREASURY

3.625 08/31/2029 400,000.00
400,432.99

0.00 0.00
400,423.60
1,241.71

0.00 2,483.43
1,241.71

36.79 (46.18)
(9.39)
1,232.33
1,232.33
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029 400,000.00
391,483.71

0.00 0.00
391,664.54

38.46 0.00
1,230.77
1,192.31
180.83

0.00 180.83
1,373.13
1,373.13
91282CLR0 UNITED STATES TREASURY

4.125 10/31/2029 400,000.00
396,993.10

0.00 0.00
397,055.62
6,904.89
8,250.00

45.58 1,390.69

62.52 0.00

62.52 1,453.21
1,453.21
91282CMA6 UNITED STATES TREASURY

4.125 11/30/2029
12/11/2024
12/12/2024
400,000.00
400,458.55

0.00 0.00
400,449.20
5,545.08

0.00 6,942.62
1,397.54

0.00 (9.35)
(9.35)
1,388.20
1,388.20
91282CMD0 UNITED STATES TREASURY

4.375 12/31/2029 400,000.00
398,867.92

0.00 0.00
398,890.53
4,422.55

0.00 5,896.74
1,474.18

25.76 (3.15)

22.61 1,496.80
1,496.80
91282CMU2 UNITED STATES TREASURY 4.0
03/31/2030
04/07/2025
04/08/2025
300,000.00
303,048.27

0.00 0.00
302,990.72

32.97 0.00
1,054.95
1,021.98

0.00 (57.55)
(57.55)
964.43
964.43
91282CMZ1 UNITED STATES TREASURY

3.875 04/30/2030
09/16/2025
09/17/2025
500,000.00
506,372.42

0.00 0.00
506,254.27
8,108.02
9,687.50

53.52 1,633.01

0.00 (118.15)
(118.15)
1,514.86
1,514.86
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030
06/09/2025
06/10/2025
350,000.00
348,820.46

0.00 0.00
348,841.93
4,704.92

0.00 5,890.71
1,185.79

21.47 0.00

3.875 06/30/2030
07/29/2025
07/30/2025
325,000.00
323,971.00

0.00 0.00
323,989.40
3,182.66

0.00 4,243.55
1,060.89

18.41 0.00

18.41 1,079.29
1,079.29
91282CNN7 UNITED STATES TREASURY

3.875 07/31/2030
08/26/2025
08/27/2025
225,000.00
226,060.02

0.00 0.00
226,041.39
1,468.92

0.00 2,203.38
734.46

0.00 (18.63)
(18.63)
715.83
715.83
91282CNX5 UNITED STATES TREASURY

3.625 08/31/2030
09/16/2025
09/17/2025
500,000.00
500,930.24

0.00 0.00
500,914.18
1,552.14

0.00 3,104.28
1,552.14

0.00 (16.07)
(16.07)
1,536.08
1,536.08
91324PEY4 UNITEDHEALTH GROUP INC

4.6 04/15/2027
09/18/2024
09/19/2024
240,000.00
242,539.79

0.00 0.00
242,391.24
5,090.67
5,520.00
490.67
920.00

0.00 (148.55)
(148.55)
771.45
771.45
92970QAE5 WFCIT 2024-2 A 4.29
10/15/2029
10/17/2024
10/24/2024
110,000.00
109,986.73

0.00 0.00
109,987.01
209.73
393.25
209.73
393.25

0.28 0.00

0.28 393.53
393.53
931142FN8 WALMART INC 4.35
04/28/2030
04/23/2025
04/28/2025
185,000.00
184,707.29

0.00 0.00
184,712.73
3,420.19
4,023.75

67.06 670.63

5.43 0.00

5.43 676.06
676.06
Total Fixed Income 20,817,204.05
20,479,018.44
260,019.50
(7,842.86)
20,733,700.12
162,670.11
89,147.27
143,826.15
70,303.31
4,803.24
(2,298.19)
2,505.04
72,808.35 72,808.35
TOTAL PORTFOLIO 20,939,724.01
20,763,804.19
353,292.66
(262,449.86)
20,856,220.08
162,670.11
90,842.80
143,826.15
71,998.84
4,803.24
(2,298.19)
2,505.04
74,503.88 74,503.88
Item 7.4
Tuesday, December 02, 2025 48 of 239
CONFIDENTIAL | 25
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount NOVEMBER 2025
11/10/2025 Coupon 69371RT71 230,000.00 PACCAR FINANCIAL CORP 4.55 05/08/2030 5,232.50 5,232.50 11/17/2025 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 11/17/2025 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 11/17/2025 Coupon 14913UAU4 250,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.7 11/15/2029 5,875.00 5,875.00
11/17/2025 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 11/17/2025 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 11/17/2025 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 11/17/2025 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 11/17/2025 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 11/17/2025 Coupon 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 826.67 826.67 11/17/2025 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 11/17/2025 Coupon 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 249.13 249.13 11/17/2025 Principal Paydown 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 6,734.17 6,734.17 11/17/2025 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 11/17/2025 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 11/17/2025 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 11/20/2025 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 11/20/2025 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 11/25/2025 Coupon 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 1,726.67 1,726.67 11/25/2025 Coupon 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 648.45 648.45 11/25/2025 Principal Paydown 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 489.66 489.66 11/25/2025 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 11/25/2025 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 11/25/2025 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 11/25/2025 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 11/25/2025 Coupon 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 368.36 368.36 11/25/2025 Principal Paydown 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 163.52 163.52 11/25/2025 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 11/25/2025 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 11/25/2025 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 Item 7.4
Tuesday, December 02, 2025 49 of 239
CONFIDENTIAL | 26
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount November 2025
Total 7,387.35 24,525.27 31,912.62
DECEMBER 2025
12/01/2025 Coupon 91282CMA6 400,000.00 UNITED STATES TREASURY 4.125 11/30/2029 8,250.00 8,250.00 12/01/2025 Coupon 91282CNG2 350,000.00 UNITED STATES TREASURY 4.0 05/31/2030 7,000.00 7,000.00 12/11/2025 Coupon 24422EXT1 225,000.00 JOHN DEERE CAPITAL CORP 4.85 06/11/2029 5,456.25 5,456.25 12/15/2025 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 12/15/2025 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 12/15/2025 Coupon 06406RBG1 225,000.00 BANK OF NEW YORK MELLON CORP 3.992 06/13/2028 4,491.00 4,491.00
12/15/2025 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 12/15/2025 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 12/15/2025 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 12/15/2025 Coupon 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 826.67 826.67 12/15/2025 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 12/15/2025 Coupon 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 223.15 223.15 12/15/2025 Principal Paydown 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 6,413.88 6,413.88 12/15/2025 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 12/15/2025 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 12/15/2025 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 12/16/2025 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 12/16/2025 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 12/22/2025 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 12/22/2025 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 12/25/2025 Coupon 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 1,726.67 1,726.67 12/25/2025 Coupon 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 647.17 647.17 12/25/2025 Principal Paydown 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 515.54 515.54 12/25/2025 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 12/25/2025 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 12/25/2025 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 12/25/2025 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 12/25/2025 Coupon 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 367.95 367.95 Item 7.4
Tuesday, December 02, 2025 50 of 239
CONFIDENTIAL | 27
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/25/2025 Principal Paydown 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 177.61 177.61 12/25/2025 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 12/25/2025 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 12/25/2025 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 12/26/2025 Coupon 437076DB5 225,000.00 HOME DEPOT INC 4.875 06/25/2027 5,484.38 5,484.38 12/31/2025 Coupon 91282CEV9 350,000.00 UNITED STATES TREASURY 3.25 06/30/2029 5,687.50 5,687.50 12/31/2025 Coupon 91282CHK0 350,000.00 UNITED STATES TREASURY 4.0 06/30/2028 7,000.00 7,000.00 12/31/2025 Coupon 91282CMD0 400,000.00 UNITED STATES TREASURY 4.375 12/31/2029 8,750.00 8,750.00 12/31/2025 Coupon 91282CNK3 325,000.00 UNITED STATES TREASURY 3.875 06/30/2030 6,296.88 6,296.88 December 2025
Total 7,107.03 71,806.10 78,913.13
JANUARY 2026
01/09/2026 Coupon 02665WFK2 200,000.00 AMERICAN HONDA FINANCE CORP 4.9 07/09/2027 4,900.00 4,900.00
01/09/2026 Coupon 89236TNA9 170,000.00 TOYOTA MOTOR CREDIT CORP 4.95 01/09/2030 4,207.50 4,207.50 01/12/2026 Coupon 3133ENZY9 1,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

3.96 07/12/2027 19,800.00 19,800.00
01/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 01/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 01/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 01/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 01/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 01/15/2026 Coupon 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 826.67 826.67 01/15/2026 Principal Paydown 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 15,108.74 15,108.74 01/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 01/15/2026 Coupon 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 198.40 198.40 01/15/2026 Principal Paydown 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 6,280.61 6,280.61 01/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 01/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 01/15/2026 Coupon 91282CKZ3 375,000.00 UNITED STATES TREASURY 4.375 07/15/2027 8,203.13 8,203.13 01/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 01/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 Item 7.4
Tuesday, December 02, 2025 51 of 239
CONFIDENTIAL | 28
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 01/20/2026 Coupon 025816EJ4 170,000.00 AMERICAN EXPRESS CO 4.351 07/20/2029 3,595.62 3,595.62 01/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 01/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 01/26/2026 Coupon 06051GMK2 150,000.00 BANK OF AMERICA CORP 4.979 01/24/2029 3,734.25 3,734.25 01/26/2026 Coupon 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 1,726.67 1,726.67 01/26/2026 Principal Paydown 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 19,342.69 19,342.69 01/26/2026 Coupon 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 645.83 645.83 01/26/2026 Principal Paydown 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 491.08 491.08 01/26/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 01/26/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 01/26/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 01/26/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 01/26/2026 Coupon 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 367.51 367.51 01/26/2026 Principal Paydown 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 164.29 164.29 01/26/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 01/26/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 01/26/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 01/26/2026 Coupon 46647PDG8 150,000.00 JPMORGAN CHASE & CO 4.851 07/25/2028 3,638.25 3,638.25 01/26/2026 Coupon 46647PEU6 115,000.00 JPMORGAN CHASE & CO 4.915 01/24/2029 2,826.13 2,826.13 01/27/2026 Coupon 06368MJG0 100,000.00 BANK OF MONTREAL 5.004 01/27/2029 2,502.00 2,502.00 January 2026 Total 41,387.41 66,770.44 108,157.85
FEBRUARY 2026
02/02/2026 Coupon 13063EGT7 205,000.00 CALIFORNIA STATE 4.5 08/01/2029 4,612.50 4,612.50 02/02/2026 Coupon 89115A3E0 225,000.00 TORONTO-DOMINION BANK 4.861 01/31/2028 5,468.63 5,468.63 02/02/2026 Coupon 91159HJK7 200,000.00 US BANCORP 4.653 02/01/2029 4,653.00 4,653.00 02/02/2026 Coupon 91282CLC3 350,000.00 UNITED STATES TREASURY 4.0 07/31/2029 7,000.00 7,000.00 02/02/2026 Coupon 91282CNN7 225,000.00 UNITED STATES TREASURY 3.875 07/31/2030 4,359.38 4,359.38 02/09/2026 Coupon 63743HFX5 250,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.95 02/07/2030 6,187.50 6,187.50
02/09/2026 Coupon 89236TMK8 225,000.00 TOYOTA MOTOR CREDIT CORP 4.55 08/09/2029 5,118.75 5,118.75 02/16/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 Item 7.4
Tuesday, December 02, 2025 52 of 239
CONFIDENTIAL | 29
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 02/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 02/16/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 02/16/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 02/16/2026 Coupon 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 764.22 764.22 02/16/2026 Principal Paydown 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 12,111.47 12,111.47 02/16/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 02/16/2026 Coupon 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 174.17 174.17 02/16/2026 Principal Paydown 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 6,185.35 6,185.35 02/16/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 02/16/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 02/17/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 02/17/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 02/17/2026 Coupon 26442CAY0 250,000.00 DUKE ENERGY CAROLINAS LLC 2.45 08/15/2029 3,062.50 3,062.50
02/17/2026 Coupon 532457CQ9 235,000.00 ELI LILLY AND CO 4.2 08/14/2029 4,935.00 4,935.00 02/17/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 02/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 02/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 02/24/2026 Coupon 17275RBW1 250,000.00 CISCO SYSTEMS INC 4.55 02/24/2028 5,687.50 5,687.50 02/25/2026 Coupon 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 1,643.17 1,643.17 02/25/2026 Principal Paydown 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 22,068.26 22,068.26 02/25/2026 Coupon 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 644.55 644.55 02/25/2026 Principal Paydown 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 2,102.22 2,102.22 02/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 02/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 02/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 02/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 02/25/2026 Coupon 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 367.10 367.10 02/25/2026 Principal Paydown 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 164.65 164.65 02/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 02/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 Item 7.4
Tuesday, December 02, 2025 53 of 239
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City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 February 2026
Total 42,631.96 64,276.46 106,908.42
MARCH 2026
03/02/2026 Coupon 91282CGP0 375,000.00 UNITED STATES TREASURY 4.0 02/29/2028 7,500.00 7,500.00 03/02/2026 Coupon 91282CKD2 375,000.00 UNITED STATES TREASURY 4.25 02/28/2029 7,968.75 7,968.75 03/02/2026 Coupon 91282CLK5 400,000.00 UNITED STATES TREASURY 3.625 08/31/2029 7,250.00 7,250.00 03/02/2026 Coupon 91282CNX5 500,000.00 UNITED STATES TREASURY 3.625 08/31/2030 9,062.50 9,062.50 03/09/2026 Coupon 3130B7QM9 500,000.00 FEDERAL HOME LOAN BANKS 3.5 09/09/2027 8,652.78 8,652.78 03/16/2026 Coupon 00287YDY2 125,000.00 ABBVIE INC 4.65 03/15/2028 2,906.25 2,906.25 03/16/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 03/16/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 03/16/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 03/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 03/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 03/16/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 03/16/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 03/16/2026 Coupon 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 714.16 714.16 03/16/2026 Principal Paydown 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 8,454.91 8,454.91 03/16/2026 Coupon 571748CA8 250,000.00 MARSH & MCLENNAN COMPANIES INC 4.65 03/15/2030 5,812.50 5,812.50
03/16/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 03/16/2026 Coupon 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 150.30 150.30 03/16/2026 Principal Paydown 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 6,024.06 6,024.06 03/16/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 03/16/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 03/16/2026 Coupon 91282CKE0 350,000.00 UNITED STATES TREASURY 4.25 03/15/2027 7,437.50 7,437.50 03/16/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 03/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 03/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 03/20/2026 Coupon 459058LR2 125,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 2,578.13 2,578.13
Item 7.4
Tuesday, December 02, 2025 54 of 239
CONFIDENTIAL | 31
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/25/2026 Coupon 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 1,547.91 1,547.91 03/25/2026 Principal Paydown 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 21,468.18 21,468.18 03/25/2026 Coupon 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 639.09 639.09 03/25/2026 Principal Paydown 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 18,674.06 18,674.06 03/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 03/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 03/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 03/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 03/25/2026 Coupon 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 366.69 366.69 03/25/2026 Principal Paydown 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 205.82 205.82 03/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 03/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 03/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 03/31/2026 Coupon 91282CFM8 350,000.00 UNITED STATES TREASURY 4.125 09/30/2027 7,218.75 7,218.75 03/31/2026 Coupon 91282CKG5 350,000.00 UNITED STATES TREASURY 4.125 03/31/2029 7,218.75 7,218.75 03/31/2026 Coupon 91282CLN9 400,000.00 UNITED STATES TREASURY 3.5 09/30/2029 7,000.00 7,000.00 03/31/2026 Coupon 91282CMU2 300,000.00 UNITED STATES TREASURY 4.0 03/31/2030 6,000.00 6,000.00 March 2026 Total 54,827.03 99,622.55 154,449.58
APRIL 2026
04/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 04/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 04/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 04/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 04/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 04/15/2026 Coupon 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 679.21 679.21 04/15/2026 Principal Paydown 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 10,475.70 10,475.70 04/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 04/15/2026 Coupon 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 127.06 127.06 04/15/2026 Principal Paydown 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 6,163.25 6,163.25 04/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 04/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 04/15/2026 Coupon 91282CJC6 375,000.00 UNITED STATES TREASURY 4.625 10/15/2026 8,671.88 8,671.88 Item 7.4
Tuesday, December 02, 2025 55 of 239
CONFIDENTIAL | 32
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/15/2026 Coupon 91324PEY4 240,000.00 UNITEDHEALTH GROUP INC 4.6 04/15/2027 5,520.00 5,520.00 04/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 04/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 04/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 04/16/2026 Coupon 459058LN1 350,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.875 10/16/2029 6,781.25 6,781.25
04/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 04/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 04/20/2026 Coupon 61748UAK8 155,000.00 MORGAN STANLEY 4.133 10/18/2029 3,131.90 3,131.90 04/20/2026 Coupon 78017FZQ9 250,000.00 ROYAL BANK OF CANADA 4.51 10/18/2027 5,637.50 5,637.50 04/21/2026 Coupon 38141GD27 105,000.00 GOLDMAN SACHS GROUP INC 4.153 10/21/2029 2,180.33 2,180.33
04/22/2026 Coupon 857477CP6 250,000.00 STATE STREET CORP 4.33 10/22/2027 5,412.50 5,412.50 04/27/2026 Coupon 06051GLG2 150,000.00 BANK OF AMERICA CORP 5.202 04/25/2029 3,901.50 3,901.50 04/27/2026 Coupon 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 1,455.24 1,455.24 04/27/2026 Principal Paydown 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 21,532.00 21,532.00 04/27/2026 Coupon 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 590.54 590.54 04/27/2026 Principal Paydown 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 450.46 450.46 04/27/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 04/27/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 04/27/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 04/27/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 04/27/2026 Coupon 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 366.18 366.18 04/27/2026 Principal Paydown 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 165.53 165.53 04/27/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 04/27/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 04/27/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 04/28/2026 Coupon 931142FN8 185,000.00 WALMART INC 4.35 04/28/2030 4,023.75 4,023.75 04/30/2026 Coupon 91282CJF9 375,000.00 UNITED STATES TREASURY 4.875 10/31/2028 9,140.63 9,140.63 04/30/2026 Coupon 91282CKP5 375,000.00 UNITED STATES TREASURY 4.625 04/30/2029 8,671.88 8,671.88 04/30/2026 Coupon 91282CLR0 400,000.00 UNITED STATES TREASURY 4.125 10/31/2029 8,250.00 8,250.00 04/30/2026 Coupon 91282CMZ1 500,000.00 UNITED STATES TREASURY 3.875 04/30/2030 9,687.50 9,687.50 Item 7.4
Tuesday, December 02, 2025 56 of 239
CONFIDENTIAL | 33
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount April 2026 Total 38,786.93 93,827.32 132,614.26
MAY 2026
05/08/2026 Coupon 69371RT71 230,000.00 PACCAR FINANCIAL CORP 4.55 05/08/2030 5,232.50 5,232.50 05/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 05/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 05/15/2026 Coupon 14913UAU4 250,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.7 11/15/2029 5,875.00 5,875.00
05/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 05/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 05/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 05/15/2026 Coupon 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 635.91 635.91 05/15/2026 Principal Paydown 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 10,100.28 10,100.28 05/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 05/15/2026 Coupon 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 103.28 103.28 05/15/2026 Principal Paydown 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 5,843.42 5,843.42 05/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 05/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 05/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 05/18/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 05/18/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 05/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 05/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 05/25/2026 Coupon 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 1,362.29 1,362.29 05/25/2026 Principal Paydown 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 20,741.92 20,741.92 05/25/2026 Coupon 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 589.37 589.37 05/25/2026 Principal Paydown 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 474.14 474.14 05/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 05/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 05/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 05/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 05/25/2026 Coupon 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 365.77 365.77 05/25/2026 Principal Paydown 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 179.41 179.41 Item 7.4
Tuesday, December 02, 2025 57 of 239
CONFIDENTIAL | 34
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 05/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 05/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 05/26/2026 Final Maturity 62479MES8 350,000.00 MUFG Bank, Ltd., New York Branch 05/26/2026 350,000.00 350,000.00 May 2026 Total 387,339.18 23,762.62 411,101.79
JUNE 2026
06/01/2026 Coupon 91282CMA6 400,000.00 UNITED STATES TREASURY 4.125 11/30/2029 8,250.00 8,250.00 06/01/2026 Coupon 91282CNG2 350,000.00 UNITED STATES TREASURY 4.0 05/31/2030 7,000.00 7,000.00 06/11/2026 Coupon 24422EXT1 225,000.00 JOHN DEERE CAPITAL CORP 4.85 06/11/2029 5,456.25 5,456.25 06/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 06/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 06/15/2026 Coupon 06406RBG1 225,000.00 BANK OF NEW YORK MELLON CORP 3.992 06/13/2028 4,491.00 4,491.00
06/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 06/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 06/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 06/15/2026 Coupon 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 594.16 594.16 06/15/2026 Principal Paydown 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 9,117.23 9,117.23 06/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 06/15/2026 Coupon 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 80.73 80.73 06/15/2026 Principal Paydown 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 5,320.01 5,320.01 06/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 06/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 06/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 06/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 06/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 06/22/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 06/22/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 06/25/2026 Coupon 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 1,272.76 1,272.76 06/25/2026 Principal Paydown 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 19,205.47 19,205.47 06/25/2026 Coupon 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 588.13 588.13 06/25/2026 Principal Paydown 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 452.64 452.64 Item 7.4
Tuesday, December 02, 2025 58 of 239
CONFIDENTIAL | 35
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 06/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 06/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 06/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 06/25/2026 Coupon 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 365.33 365.33 06/25/2026 Principal Paydown 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 166.30 166.30 06/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 06/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 06/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 06/25/2026 Coupon 437076DB5 225,000.00 HOME DEPOT INC 4.875 06/25/2027 5,484.38 5,484.38 06/30/2026 Coupon 91282CEV9 350,000.00 UNITED STATES TREASURY 3.25 06/30/2029 5,687.50 5,687.50 06/30/2026 Coupon 91282CHK0 350,000.00 UNITED STATES TREASURY 4.0 06/30/2028 7,000.00 7,000.00 06/30/2026 Coupon 91282CMD0 400,000.00 UNITED STATES TREASURY 4.375 12/31/2029 8,750.00 8,750.00 06/30/2026 Coupon 91282CNK3 325,000.00 UNITED STATES TREASURY 3.875 06/30/2030 6,296.88 6,296.88 June 2026 Total 34,261.65 70,915.61 105,177.26
JULY 2026
07/09/2026 Coupon 02665WFK2 200,000.00 AMERICAN HONDA FINANCE CORP 4.9 07/09/2027 4,900.00 4,900.00
07/09/2026 Coupon 89236TNA9 170,000.00 TOYOTA MOTOR CREDIT CORP 4.95 01/09/2030 4,207.50 4,207.50 07/13/2026 Coupon 3133ENZY9 1,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

3.96 07/12/2027 19,800.00 19,800.00
07/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 07/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 07/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 07/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 07/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 07/15/2026 Coupon 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 556.48 556.48 07/15/2026 Principal Paydown 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 9,329.01 9,329.01 07/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 07/15/2026 Coupon 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 60.21 60.21 07/15/2026 Principal Paydown 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 5,215.18 5,215.18 07/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 Item 7.4
Tuesday, December 02, 2025 59 of 239
CONFIDENTIAL | 36
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 07/15/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 3,304.02 3,304.02 07/15/2026 Coupon 91282CKZ3 375,000.00 UNITED STATES TREASURY 4.375 07/15/2027 8,203.13 8,203.13 07/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 07/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 07/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 07/16/2026 Principal Paydown 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 2,577.00 2,577.00 07/20/2026 Coupon 025816EJ4 170,000.00 AMERICAN EXPRESS CO 4.351 07/20/2029 3,698.35 3,698.35 07/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 07/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 07/24/2026 Coupon 06051GMK2 150,000.00 BANK OF AMERICA CORP 4.979 01/24/2029 3,734.25 3,734.25 07/24/2026 Coupon 46647PEU6 115,000.00 JPMORGAN CHASE & CO 4.915 01/24/2029 2,826.13 2,826.13 07/27/2026 Coupon 06368MJG0 100,000.00 BANK OF MONTREAL 5.004 01/27/2029 2,502.00 2,502.00 07/27/2026 Coupon 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 1,189.85 1,189.85 07/27/2026 Principal Paydown 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 18,810.56 18,810.56 07/27/2026 Coupon 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 586.96 586.96 07/27/2026 Principal Paydown 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 1,466.15 1,466.15 07/27/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 07/27/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 07/27/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 07/27/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 07/27/2026 Coupon 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 364.91 364.91 07/27/2026 Principal Paydown 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 180.10 180.10 07/27/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 07/27/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 07/27/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 07/27/2026 Coupon 46647PDG8 150,000.00 JPMORGAN CHASE & CO 4.851 07/25/2028 3,638.25 3,638.25 07/31/2026 Coupon 89115A3E0 225,000.00 TORONTO-DOMINION BANK 4.861 01/31/2028 5,468.63 5,468.63 07/31/2026 Coupon 91282CLC3 350,000.00 UNITED STATES TREASURY 4.0 07/31/2029 7,000.00 7,000.00 07/31/2026 Coupon 91282CNN7 225,000.00 UNITED STATES TREASURY 3.875 07/31/2030 4,359.38 4,359.38 July 2026 Total 40,882.01 82,694.50 123,576.52
AUGUST 2026
Item 7.4
Tuesday, December 02, 2025 60 of 239
CONFIDENTIAL | 37
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/03/2026 Coupon 13063EGT7 205,000.00 CALIFORNIA STATE 4.5 08/01/2029 4,612.50 4,612.50 08/03/2026 Coupon 91159HJK7 200,000.00 US BANCORP 4.653 02/01/2029 4,653.00 4,653.00 08/07/2026 Coupon 63743HFX5 250,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.95 02/07/2030 6,187.50 6,187.50
08/10/2026 Coupon 89236TMK8 225,000.00 TOYOTA MOTOR CREDIT CORP 4.55 08/09/2029 5,118.75 5,118.75 08/14/2026 Coupon 532457CQ9 235,000.00 ELI LILLY AND CO 4.2 08/14/2029 4,935.00 4,935.00 08/17/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 08/17/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 08/17/2026 Coupon 26442CAY0 250,000.00 DUKE ENERGY CAROLINAS LLC 2.45 08/15/2029 3,062.50 3,062.50
08/17/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 08/17/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 08/17/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 210.55 210.55 08/17/2026 Principal Paydown 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 3,115.83 3,115.83 08/17/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 08/17/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 08/17/2026 Coupon 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 517.92 517.92 08/17/2026 Principal Paydown 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 9,600.20 9,600.20 08/17/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 08/17/2026 Coupon 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 40.08 40.08 08/17/2026 Principal Paydown 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 4,393.59 4,393.59 08/17/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 08/17/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 207.89 207.89 08/17/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 3,283.30 3,283.30 08/17/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 08/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 08/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 08/24/2026 Coupon 17275RBW1 250,000.00 CISCO SYSTEMS INC 4.55 02/24/2028 5,687.50 5,687.50 08/25/2026 Coupon 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 1,108.65 1,108.65 08/25/2026 Principal Paydown 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 18,323.55 18,323.55 08/25/2026 Coupon 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 583.14 583.14 08/25/2026 Principal Paydown 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 40,768.12 40,768.12 Item 7.4
Tuesday, December 02, 2025 61 of 239
CONFIDENTIAL | 38
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 08/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 08/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 08/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 08/25/2026 Coupon 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 364.47 364.47 08/25/2026 Principal Paydown 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 167.08 167.08 08/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 08/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 08/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 08/31/2026 Coupon 91282CGP0 375,000.00 UNITED STATES TREASURY 4.0 02/29/2028 7,500.00 7,500.00 08/31/2026 Coupon 91282CKD2 375,000.00 UNITED STATES TREASURY 4.25 02/28/2029 7,968.75 7,968.75 08/31/2026 Coupon 91282CLK5 400,000.00 UNITED STATES TREASURY 3.625 08/31/2029 7,250.00 7,250.00 08/31/2026 Coupon 91282CNX5 500,000.00 UNITED STATES TREASURY 3.625 08/31/2030 9,062.50 9,062.50 August 2026 Total 79,651.67 78,229.20 157,880.87
SEPTEMBER 2026
09/09/2026 Coupon 3130B7QM9 500,000.00 FEDERAL HOME LOAN BANKS 3.5 09/09/2027 8,750.00 8,750.00 09/15/2026 Coupon 00287YDY2 125,000.00 ABBVIE INC 4.65 03/15/2028 2,906.25 2,906.25 09/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 09/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 09/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 09/15/2026 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 7,252.27 7,252.27 09/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 09/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 09/15/2026 Coupon 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 478.24 478.24 09/15/2026 Principal Paydown 47800RAD5 200,000.00 JDOT 2024 A3 4.96 11/15/2028 11,162.58 11,162.58 09/15/2026 Coupon 571748CA8 250,000.00 MARSH & MCLENNAN COMPANIES INC 4.65 03/15/2030 5,812.50 5,812.50
09/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 09/15/2026 Coupon 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 23.13 23.13 09/15/2026 Principal Paydown 891940AC2 64,568.73 TAOT 2023-A A3 4.63 09/15/2027 4,187.03 4,187.03 09/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 09/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 195.85 195.85 Item 7.4
Tuesday, December 02, 2025 62 of 239
CONFIDENTIAL | 39
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/15/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 3,224.41 3,224.41 09/15/2026 Coupon 91282CKE0 350,000.00 UNITED STATES TREASURY 4.25 03/15/2027 7,437.50 7,437.50 09/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 09/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 09/16/2026 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 4,205.70 4,205.70 09/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 199.13 199.13 09/16/2026 Principal Paydown 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 3,415.92 3,415.92 09/21/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 09/21/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 09/21/2026 Coupon 459058LR2 125,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 2,578.13 2,578.13
09/25/2026 Coupon 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 1,029.56 1,029.56 09/25/2026 Principal Paydown 096919AD7 400,000.00 BMWOT 2024-A A3 5.18 02/26/2029 17,995.09 17,995.09 09/25/2026 Coupon 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 477.15 477.15 09/25/2026 Final Maturity 3137BSRE5 249,401.97 FHMS K-059 A2 3.12 09/25/2026 183,517.90 183,517.90 09/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 09/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 09/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 09/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 09/25/2026 Coupon 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 364.05 364.05 09/25/2026 Principal Paydown 3137FMCR1 148,233.35 FHMS K-093 A2 2.982 05/25/2029 167.44 167.44 09/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 09/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 09/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 09/30/2026 Coupon 91282CFM8 350,000.00 UNITED STATES TREASURY 4.125 09/30/2027 7,218.75 7,218.75 09/30/2026 Coupon 91282CKG5 350,000.00 UNITED STATES TREASURY 4.125 03/31/2029 7,218.75 7,218.75 09/30/2026 Coupon 91282CLN9 400,000.00 UNITED STATES TREASURY 3.5 09/30/2029 7,000.00 7,000.00 09/30/2026 Coupon 91282CMU2 300,000.00 UNITED STATES TREASURY 4.0 03/31/2030 6,000.00 6,000.00 September 2026
Total 235,128.33 66,847.47 301,975.80
Grand Total 86,258,489.16 969,390.55 743,277.55 1,712,668.10 Item 7.4
Tuesday, December 02, 2025 63 of 239
CONFIDENTIAL | 40
City of Campbell | Account #11214 | As of October 31, 2025 Execution Time: 11/05/2025 10:04:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

IMPORTANT DISCLOSURES
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To obtain a copy of our current disclosures, you may contact your client service representative by calling the number on the front of this statement or you may visit our website at www.chandlerasset.com.

Information contained in this monthly statement is confidential and is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of this statement, but may become outdated or superseded at any time without notice.

Custody: Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account.

Valuation: Prices are provided by IDC, an independent pricing source. In the event IDC does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance: Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.

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Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index.

Ratings: Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest.

BENCHMARK INDEX & DISCLOSURES
Benchmark Disclosure
ICE BofA 1-5 Yr US Treasury & Agency
Index
The ICE BofA 1-5 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies.

Item 7.4
Tuesday, December 02, 2025 65 of 239
City Council Report
DATE: December 2, 2025
TITLE: Monthly Treasurer’s Report (October 2025)
RECOMMENDED ACTION:

That the City Council review and accept the Monthly Treasurer’s Report for the month ended October 31, 2025.

BACKGROUND
California government code section 41004 requires that the City Treasurer submits to the City Clerk and the legislative body a written report and accounting of all receipts, disbursements, and fund balances. The City of Campbell’s Finance Director has the responsibility of City Treasurer. This report has been prepared to fulfill this requirement.

This report provides financial transaction data for the City of Campbell’s Funds collectively, including the City’s General (Operating) Fund.

DISCUSSION
This Monthly Treasurer’s Report details and summarizes receipts, disbursements, and fund balances for the month ended October 31, 2025. As shown in Attachment 1, the City recognized $4.6 million in revenues and incurred $6.6 million in expenditures in total, for all City funds along with $7.9 of positive prior period adjustments. The City’s overall ending fund balance for October 2025 is $60.2 million, an increase of $5.9 million from the September 2025 total of $54.2 million. Also in the General Fund, the City recognized $3.7 million in revenues and incurred $3.6 million in expenditures in total, along with $5.5 million of positive prior period adjustments. The General Fund’s overall ending fund balance for October 2025 is $18.0 million, an increase of $5.5 million from the September 2025 total for $12.4 million.

FISCAL IMPACT
There is no fiscal impact associated with the review and acceptance of the Monthly Treasurer’s Report.

PREPARED BY: Carolina Vargas, Accountant
Item 7.5
Tuesday, December 02, 2025 66 of 239
Report Approval Details
Document Title: Report - Monthly Treasurer's Report October 2025.docx Attachments: 2025.10 Fund Balance Report.pdf
Final Approval Date: November 25, 2025
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 7.5
Tuesday, December 02, 2025 67 of 239
City of Campbell
Changes in Total Fund Balance
For the month ended October 31, 2025
Fund Balance
as of
09/30/2025
Prior Month
Adjustment
Current
Revenue
Current
Expenditure
Fund Balance
as of
10/31/2025
General Fund
Nonspendable Fund Balance
Leases $ 199,081.00 $ - $ - $ - $ 199,081.00
Committed Fund Balance
General Plan Update - - - - -
Compensated Absences 970,698.00 - - - 970,698.00
Liability insurance 157,936.00 - - - 157,936.00
Available Capital Improvement Reserve 212,351.00 - - - 212,351.00 Committed Capital Improvement Reserve 1,240,899.00 - - - 1,240,899.00 Community Center Facility 149,706.00 - - - 149,706.00
Heritage Theater 180,344.00 - - - 180,344.00
Historic Preservation 5,000.00 - - - 5,000.00
Assigned Fund Balance
Capital Projects (Construction Tax) 138,406.00 - - - 138,406.00 Unemployment insurance 90,000.00 - - - 90,000.00
PERS 2,252,000.00 - - - 2,252,000.00
OPEB 393,315.00 - - - 393,315.00
Encumbrances 917,512.00 - - - 917,512.00
Unassigned Fund Balance
Unassigned (7,539,996.27) 5,488,463.40 3,655,229.09 (3,608,209.32) (2,004,513.10) City Council Reserve 362,624.00 - - - 362,624.00
Economic fluctuations 9,485,886.00 - - - 9,485,886.00
Emergency 3,207,454.00 - - - 3,207,454.00
General Fund Total 12,423,215.73 5,488,463.40 3,655,229.09 (3,608,209.32) 17,958,698.90 Special Revenue
Vehicle Impact 3,075,328.05 (457,497.75) 80,371.24 - 2,698,201.54 Gas Tax 2,659,585.10 55,444.39 223,539.60 (97,729.69) 2,840,839.40 Asset Forfeiture 154,782.18 3,493.95 - - 158,276.13
Lighting & Landscape District 567,760.63 197,513.73 84,061.85 (272,884.95) 576,451.26 Housing & Community Development 345.85 (16.31) - - 329.54 Environmental Services 1,130,388.79 25,305.84 43,920.29 (1,742.52) 1,197,872.40 Supplemental Law Enforcement (31,839.52) 1,552.15 - (6,847.11) (37,134.48) State & Other Grants (426,590.20) (32,666.77) 40,648.00 - (418,608.97) TDA Grant 379,000.72 (83,447.55) - - 295,553.17
Federal Grants 686,026.41 (49,775.69) - - 636,250.72
ARPA Fund 185,956.58 (186,957.38) - (12,836.19) (13,836.99) Housing Assistance 7,773,036.87 (783.27) 40,548.91 (64,741.17) 7,748,061.34 Community Restitution Fund 210,438.47 4,311.69 8,352.47 - 223,102.63 Community Facilities District #1 (3,202.74) (34,088.17) - (1,051.01) (38,341.92) Community Facilities District #2 214,374.85 46,751.21 - (953.27) 260,172.79 Parkland Dedication 7,988,679.73 (280,952.99) - - 7,707,726.74 Recreation - Private Grants 6,511.21 148.75 - - 6,659.96 Adult Center 18,037.31 412.07 - - 18,449.38
Special Revenue Fund Total 24,588,620.29 (791,252.10) 521,442.36 (458,785.91) 23,860,024.64 Debt Service
Measure O 1,850,645.02 (19.61) 48,145.06 - 1,898,770.47 LID #30 34,956.92 869.14 - - 35,826.06
2016 Refunding Lease Revenue Bond 46,206.33 191,600.00 - - 237,806.33 Debt Service Fund Total 1,931,808.27 192,449.53 48,145.06 - 2,172,402.86 Internal Service Fund
Motor Vehicle Pool 1,038,621.58 97,663.68 91,755.67 (63,028.61) 1,165,012.32 Information Technology Pool (615,585.32) 79,267.41 96,832.65 (137,979.12) (577,464.38) Worker's Compensation 1,542,402.46 (83,331.38) 50,993.66 (48,072.20) 1,461,992.54 Internal Service Fund Total 1,965,438.72 93,599.71 239,581.98 (249,079.93) 2,049,540.48 Trust/Agency
Successor Agency 3,749,858.25 (322,322.35) - - 3,427,535.90 West Valley Solid Waste JPA 1,056,966.95 35,119.87 142,613.83 (88,857.53) 1,145,843.12 SCC Specialized Enforcement Team - - - - -
Trust/Agency Fund Total 4,806,825.20 (287,202.48) 142,613.83 (88,857.53) 4,573,379.02 Capital Project
Capital Projects Fund (3,213,928.96) 3,055,603.78 - (47,514.32) (205,839.50) Measure O CIP Fund 11,743,864.10 108,754.92 - (2,101,160.45) 9,751,458.57 Capital Project Fund Total 8,529,935.14 3,164,358.70 - (2,148,674.77) 9,545,619.07 Total City $ 54,245,843.35 $ 7,860,416.76 $ 4,607,012.32 $ (6,553,607.46) $ 60,159,664.97 Fund Description
*Fund balances are unaudited, and may not include all necessary adjustments. These figures will be updated in future reports once the FY 2024/25 independent audit is completed.

Item 7.5
Tuesday, December 02, 2025 68 of 239
City Council Report
DATE: December 2, 2025
TITLE: Resolution Reviewing and Accepting the Annual Developer Fee Disclosure Information for the Environmental Services Fee, Parkland Dedication Fee, and Vehicle Impact Fee and Making Five-Year Findings for the Parkland Dedication Fee and Vehicle Impact Fee for the Fiscal Year Ended June 30, 2025 Pursuant to California Government Code (GC) Section 66001 (Resolution/Roll Call Vote)
RECOMMENDED ACTION:

That the City Council adopt a resolution consistent with the Mitigation Fee Act (AB-1600) to review and accept the annual developer fee disclosure information for the Environmental Services Fee, Parkland Dedication Fee, and Vehicle Impact Fee and make five-year findings for the Parkland Dedication Fee and Vehicle Impact Fee for the Fiscal Year ended June 30, 2025 pursuant to California Government Code (GC) Section 66001.

BACKGROUND
California Government Code Section 66000 et seq. (“Mitigation Fee Act”) requires local agencies to provide an accounting of fees charged for development projects. Effective January 1, 1989, AB-1600 required new accounting guidelines for the imposition and use of such fees. Effective January 1, 1997, SB-1693 further amended and expanded the provisions of the Code with respect to the accounting and reporting requirements. The City has two basic accounting and reporting responsibilities under the Government Code.

Section 66001(d) requires that, five years after collecting a development fee subject to this Code section and every five years thereafter, the local agency shall make findings with respect to any portion of the fee remaining unexpended, whether committed or uncommitted. If the required findings are not made, the unexpended funds shall be refunded to the current property owners.

These five-year findings must:

1. Identify the purpose of the fee;

2. Demonstrate a reasonable relationship between the fee and the purpose for which it was charged;

3. Identify all sources and amounts of funding anticipated to complete financing of incomplete improvements; and

4. Designate the approximate dates on which these funding sources can be expected to be deposited into the appropriate account or fund.

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When sufficient funds have been collected to complete financing on incomplete public improvements, the local agency has 180 days to identify an approximate date by which the construction of the public improvement will begin or else is required to refund the unexpended fees, including accrued interest, to the current owner of lots or units of the development project.

For the Fiscal Year ended June 30, 2025 (FY 2025), the City needs to make five-year findings for the remaining unexpended fee proceeds for the Parkland Dedication Fee and the Vehicle Impact Fee. Five-year findings are not required under the Government Code for the Environmental Services Fee. The second requirement set forth under Government Code Section 66006(b)(1) provides that each local agency is required on an annual basis, for each separate account, to make available to the public the following information:

1. Brief description of the type of fee in the account;

2. The amount of the fee;

3. The account’s beginning and ending balance;

4. The amount of fees collected and the interest earned;

5. A description of the improvements on which the funds were expended and the amount expended on each improvement including the percentage of the improvement funded with development fees;

6. An approximate date by which the construction of a public improvement will begin if the local agency determines that sufficient funds have been collected to complete financing on the incomplete improvement;

7. A description of each inter-fund transfer or loan made from the account;

8. The amount of any refunds made pursuant to Code Section 66001.

The City deposits impact fees subject to the above disclosure in the Environmental Services Fund (209), the Parkland Dedication Fund (295), and the Vehicle Impact Fund (202) to track these development related fees. Interest income is allocated to each fund based on their respective monthly cash balances. Expenditures from these funds were in the form of capital improvement projects to either renovate existing facilities or maintain the existing level of service, consistent with the General Plan and approved Capital Improvement Plan, due to increased demand related to development projects.

DISCUSSION
Annual reports, which are shown as Exhibits to the resolution accompanying this staff report (Attachment 1), summarize the FY 2025 fund activity for the Environmental Services Fee (Exhibit 1), the Parkland Dedication Fee (Exhibit 2), and the Vehicle Impact Fee (Exhibit 3). The reports show the amount of fees collected in FY 2025, interest income, the percentage of the projects funded by the development fees, and the beginning and ending balance of the funds. The purpose of each fee is noted below:
• Environmental Services Fee - Fees paid by developers to design, install and improve storm drains for new storm drain projects throughout the City.

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• Parkland Dedication Fee - Fees paid by developers in accordance with the Quimby Act and utilized for acquisition, development and improvements to community and neighborhood parks in accordance with the Open Space Element. • Vehicle Impact Fee - Fees paid by developers to fund the cost of street replacement and maintenance due to the cumulative impact of construction and other commercial vehicles at development sites.

Table 1 below also shows the beginning fund balance, revenues received, expenditures, and ending fund balance for each impact fee for FY 2025. The plan to expend the available ending fund balances for the various fees is outlined in the attached reports.

Table 1 – Fund Balance Summary
FY 2025 Environmental
Services (209)*
Parkland
Dedication (295)
Vehicle Impact
(202)
Beg. Fund Balance $342,880 $3,963,820 $0
Revenues 39,576 2,629,801 341,258
Expenditures 0 (386,477) (341,258)
End. Fund Balance $382,456 $6,207,144 $0
* Annual reporting for the Environmental Services Fee is subject to Government Code Section 66013, however those reporting requirements are substantially similar to the annual reporting requirements under Government code section 66006 and are referred to collectively here for convenience.

Additional reports, which are also shown as Exhibits to the resolution accompanying this staff report (Attachment 1), include Five-Year Findings Reports for the Parkland Dedication Fee (Exhibit 4) and the Vehicle Impact Fee (Exhibit 5). These reports identify the purpose of each fee, demonstrate the reasonable relationship between the fee and the purpose for which the fee was charged, identify the sources and amounts of funding anticipated to complete financing of improvements and designate approximate dates on which these funding sources can be expected. Again, five-year findings are not required under the Government Code for the Environmental Services Fee and have not been provided.

FISCAL IMPACT
There is no fiscal impact for reviewing and accepting this report and approving the resolution and related exhibits. The preparation of this report and resolution is an annual recurring process that is included within current City services and whose time and costs have been built into the FY 2025 Operating Budget.

ALTERNATIVES

1. Do not accept the annual report and provide staff with other direction.

PREPARED BY: Will Fuentes, Finance Director
Item 7.6
Tuesday, December 02, 2025 71 of 239
Report Approval Details
Document Title: Report Annual Status on Project Development Fees (AB1600).docx Attachments: Resolution AB-1600 FY 25.docx
Final Approval
Date:

November 26, 2025
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 7.6
Tuesday, December 02, 2025 72 of 239
RESOLUTION NO. ____________

A RESOLUTION OF THE CITY COUNCIL OF THE

CITY OF CAMPBELL REVIEWING AND ACCEPTING ANNUAL DEVELOPMENT

FEE DISCLOSURE INFORMATION FOR THE ENVIRONMENTAL SERVICES FEE, PARKLAND DEDICATION FEE, AND VEHICLE IMPACT FEE AND MAKING FIVEYEAR FINDINGS FOR THE PARKLAND DEDICATION FEE AND VEHICLE IMPACT FEE FOR THE FISCAL YEAR ENDED JUNE 30, 2025 PURSUANT TO CALIFORNIA GOVERNMENT CODE (GC) SECTION 66001
WHEREAS, the Mitigation Fee Act, Government Code Section 66000 et seq., authorizes the City of Campbell (“City”) to impose, collect, and expend mitigation fees to offset the impacts of development within the City; and WHEREAS, pursuant to its authority under the Mitigation Fee Act (Government Code §§ 66000 et seq.) the City Council established, adopted, and imposed an Environmental Services Fee, a Parkland Dedication Fee, and a Vehicle Impact Fee (collectively, the “Fees”); and
WHEREAS, the City has deposited all Fees in separate non-commingled funds (“Funds”) established for such a purpose; and
WHEREAS, the City has made available to the public within one hundred eighty (180) days following the last day of the fiscal year the annual accounting information (“Annual Report”) required by the Mitigation Fee Act related to each of the Fees and Five Year Reports with respect to the Parkland Dedication Fee and Vehicle Impact Fee; and
WHEREAS, the City has mailed notice at least fifteen (15) days prior to this meeting to all interested parties who have requested notice of any meeting relative to the City’s imposition of the Fees and has held a duly noticed, regularly scheduled public meeting at which oral and written testimony was received regarding the Annual Reports and the Five Year Reports not less than fifteen (15) days after the City made this information publicly available.

NOW, THEREFORE, BE IT RESOLVED, the City Council of the City of Campbell hereby finds and determines as follows:

1. The City Council has considered the full record before it, which may include but is not limited to such things as the staff report, testimony by staff and the public, and other materials and evidence submitted or provided to it. Furthermore, the recitals set forth above are found to be true and correct and are incorporated herein by reference.

2. In accordance with Government Code Section 66006(b), the City Council has reviewed and approves the Annual Reports for each of the Fees, which are attached to this Resolution as Exhibits 1-3, and are also placed on file with the City Clerk. The Council, based upon the information contained in the Annual Report and the remaining need for the unexpended funds, finds as follows:

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a. That each of the Annual Reports describe the types of Fees contained in each Funds, including the amount of the fees, the beginning and ending balance of the Funds, as well as the amount of fees collected, and the interest earned thereon.
b. That each of the Annual Reports identifies each public improvement on which the Fees were expended, the amount of the expenditures on each improvement, including the total percentage of the cost of the public improvement that was funded with the Fees.
c. That there were interfund transfers or loans made from the Funds, as noted.
d. That sufficient funds have not been collected to complete the financing of any incomplete public improvement, and that there were no refunds or allocations made of the Fees.

3. In accordance with Government Code Section 66001(d), the City Council has reviewed the Five-Year Report for the Parkland Dedication Fee which is attached to this Resolution as Exhibit 4 and also on file with the City Clerk. The City Council finds, based on the information in the Five-Year Report, as follows:
a. Pursuant to Government Code Subsection 66001(d)(1)(A), the FiveYear Report identifies, by reference to City of Campbell Parks and Recreation Quimby Act Fee Update dated December 9, 2019 and the City’s Capital Improvement Program 2025-2029, the purpose to which all unexpended fees, whether committed or uncommitted, contained in the Parkland Dedication Fund will be put; and
b. Pursuant to Government Code Subsection 66001(d)(1)(B), the FiveYear Report demonstrates, by reference to the City of Campbell Parks and Recreation Quimby Act Fee Update dated December 9, 2019, a reasonable relationship between the unexpended fees contained in the Parkland Dedication Fund and the purposes to which such fees will be put; and
c. Pursuant to Government Code Subsection 66001(d)(1)(C), the Five-Year Report identifies all sources and amounts of funding anticipated to complete financing of incomplete improvements or projects; and d. Pursuant to Government Code Subsection 66001(d)(1)(D), the Five-Year Report identifies that the approximate dates upon which the funding for such incomplete improvements or projects will be deposited in the Parkland Dedication Fund account are unknown; and
e. There remain unexpended funds from the Parkland Dedication Fee which are still necessary to complete the purposes for which they were Item 7.6
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Resolution - Development Impact Fees (AB-1600)

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collected.

4. In accordance with Government Code Section 66001(d), the City Council has reviewed the Five-Year Report for the Vehicle Impact Fee which is attached to this Resolution as Exhibit 5 and also on file with the City Clerk. The City Council finds, based on the information in the Five-Year Report, as follows:
a. Pursuant to Government Code Subsection 66001(d)(1)(A), the Five Year Report identifies, by reference to the City of Campbell Road Maintenance Fees Analysis, dated June 2007, the purpose to which all unexpended fees, whether committed or uncommitted, contained in the Vehicle Impact Fund will be put; and
b. Pursuant to Government Code Subsection 66001(d)(1)(B), the FiveYear Report demonstrates, by reference to the City of Campbell Road Maintenance Fees Analysis, dated June 2007, a reasonable relationship between the unexpended fees contained in the Vehicle Impact Fund and the purposes to which such fees will be put; and
c. Pursuant to Government Code Subsection 66001(d)(1)(C), the FiveYear Report identifies all sources and amounts of funding anticipated to complete financing of incomplete improvements or projects; and d. Pursuant to Government Code Subsection 66001(d)(1)(D), the FiveYear Report identifies that the approximate dates upon which the funding for such incomplete improvements or projects will be deposited in the Vehicle Impact Fund account are unknown; and
e. There remain unexpended funds from the Vehicle Impact Fee which are still necessary to complete the purposes for which they were collected.

5. Pursuant to these findings, and at this time, there shall not be a refund of any unexpended Fees.

PASSED and ADOPTED this ______ day of __________, ________, by the following roll call vote:

AYES: Councilmembers
NOES: Councilmembers
ABSENT: Councilmembers
APPROVED:
_____________________________
Sergio Lopez, Mayor
Item 7.6
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ATTEST:
______________________________
Andrea Sanders, City Clerk
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Exhibit 1
City of Campbell
Annual Report of Development Fees and Expenditures for the Fiscal Year ended June 30, 2025
Environmental Services Fee
Description:

Fees paid by developers to design, install and improve storm drains for new storm drain projects throughout the City.

Fee:

The amount of the fee as of June 30, 2025:

Area Covered Type of Use Fee
R‐1 Land Use $2,120 per acre
Multi‐Family Residential Land Use $2,385 per acre
Citywide
All Other Land Use $2,650 per acre
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Exhibit 1 - continued
Environmental Services Fund (209)
Statement of Revenues, Expenditures, and Changes in Fund Balances for Fiscal Year (FY) 2025
Fees collected and interest earned:

Revenues
Storm drain fees $22,417
Investment income
Unrealized Gains/Losses
13,492
3,667
Total Revenues 39,576
Fee expended on public improvement:

Expenditures
None
Total Expenditures
0 0
Excess/(deficiency) of revenues over/(under) expenditures 39,576 Beginning and ending balance:

Fund balance, beginning of year 342,880
Fund balance, end of year $382,456
CIP# and Title Project Description % of the project
funded with
development fees
Construction
Commencement
Date
None None N/A N/A
Inter-fund transfer or loan made description:

None. However, transferred funds to Capital Improvement Fund (435) to actually expend funds on projects listed.

Refunds made from surplus fees and amount of any allocations made:

None.

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Exhibit 2
City of Campbell
Annual Report of Development Fees and Expenditures for the Fiscal Year ended June 30, 2025
Parkland Dedication Fee
Description:

Fees paid by developers in accordance with the Quimby Act and utilized for acquisition, development and improvements to community and neighborhood parks in accordance with the Open Space Element.

Fee:

The amount of the fee as of June 30, 2025:

Area Covered Type of Use Fee
Single‐family $31,452 per unit
Multi‐family $22,247 per unit
Secondary / Accessory Dwelling Unit
(750sf or Larger)
$8,884 per unit
Citywide
Junior Accessory Dwelling Unit $0 per unit
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Exhibit 2 - continued
Parkland Dedication Fund (295)
Statement of Revenues, Expenditures, and Changes in Fund Balances for Fiscal Year (FY) 2025
Fees collected and interest earned:

Revenues
Park dedication fees $2,340,159
Investment income
Unrealized Gains/Losses
236,468
53,174
Total Revenues 2,629,801
Fee expended on public improvement:

Expenditures
21KK – Campbell Park Bike Pathway 45,382
23DD – JDM Park Parking Lots 201,629
24DD – JDM Restrooms Improvement - Budd
25LL – Renovate E-Wing and Relocate Adult Center
68,395
71,071
Total Expenditures 386,477
Excess/(deficiency) of revenues over/(under) expenditures 2,243,324 Beginning and ending balance:

Fund balance, beginning of year 3,963,820
Fund balance, end of year $6,207,144
CIP# and Title Project Description % of the project
funded with
development fees
Construction
Commencement
Date
21KK –
Campbell Park
Bike Pathway
Construct a bicycle
pathway at Campbell
Park between East
Campbell Ave and the
Los Gatos Creek Trail.
100% 2021
23DD – JDM
Park Parking
Lots
Resurface and
restripe three parking
lots at John D.

Morgan Park.
100% 2023
24DD – JDM
Restrooms
Improvement -
Budd
Replace restroom
building located on
Budd Avenue side of
John D. Morgan Park.
100% 2024
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CIP# and Title Project Description % of the project
funded with
development fees
Construction
Commencement
Date
25LL –
Renovate EWing and
Relocate Adult
Center
Renovate the E-Wing
at the Campbell
Community Center to
relocate the 50+ Adult
Center for visibility
and accessibility
100% 2025
Inter-fund transfer or loan made description:

None. However, transferred funds to Capital Improvement Fund (435) to actually expend funds on projects listed.

Refunds made from surplus fees and amount of any allocations made:

None.

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Exhibit 3
City of Campbell
Annual Report of Development Fees and Expenditures for the Fiscal Year ended June 30, 2025
Vehicle Impact Fee
Description:

Fees paid by developers to fund the cost of street replacement and maintenance due to the cumulative impact of construction and other commercial vehicles at development sites.

Fee:

The amount of the fee as of June 30, 2025:

Area Covered Fee
Citywide 0.32% of building permit valuation
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Exhibit 3 - continued
Vehicle Impact Fund (202)
Statement of Revenues, Expenditures, and Changes in Fund Balances for Fiscal Year (FY) 2025
Fees collected and interest earned:

Revenues
Vehicle impact fees $327,927
Investment income
Unrealized Gains/Losses
13,331
0 Total Revenues 341,258
Fee expended on public improvement:

Expenditures
22NN – Campbell PDA Enhancements
23BB – Annual Street Maintenance
11,820
329,438
Total Expenditures 341,258
Excess/(deficiency) of revenues over/(under) expenditures 0 Beginning and ending balance:

Fund balance, beginning of year 0
Fund balance, end of year $0
CIP# and Title Project Description % of the project
funded with
development
fees
Construction
Commenceme
nt Date
22NN – Campbell
PDA
Enhancements
Design various
pedestrian and bicycle
improvements in
Downtown Campbell
15% 2021
23BB – Annual
Street Maintenance
Pavement treatment on
Hamilton Ave from the
eastern and western
city limits
10% 2023
Inter-fund transfer or loan made description:

None. However, transferred funds to Capital Improvement Fund (435) to actually expend funds on projects listed.

Refunds made from surplus fees and amount of any allocations made:

None.

Exhibit 4
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Five-Year Report of City of Campbell Parkland Dedication Fee for the Fiscal Year ended June 30, 2025
Summary: This Five-Year Report provides information and findings on unexpended funds in the Parkland Dedication Fee account as of June 30, 2025 pursuant to Government Code section 66001(d).

Fund Information: The Parkland Dedication Fund (295) currently contains Six Million Two Hundred Seven Thousand One Hundred Forty-Four Dollars ($6,207,144) in unexpended Parkland Dedication Fees for acquisition, development and improvements to community and neighborhood parks in accordance with the Open Space Element (“Unexpended Fee”).

Pursuant to Government Code section 66001(d)(1):

A. Purpose. The Unexpended Parkland Dedication Fees will be used to fund acquisition, development and improvements to community and neighborhood parks in accordance with the Open Space Element as identified in the City of Campbell Parks and Recreation Quimby Act Fee Update dated December 9, 2019 and the City’s Capital Improvement Program 2025-2029. The projects include:
a. 23LL – Pruneyard Creek Trail Extension
b. 24DD – JDM Restrooms Improvement – Budd
c. 24WW – Los Gatos Creek County Park – Dog Park Renovations d. 25AA – JDM Improvements – Rincon – Design
e. 25LL – Renovate E-Wing and Relocate Adult Center
f. 26CC – Community Center Skate Park Renovation
g. 26DD – Virginia Park Landscape Improvements
h. 26MM – Community Center Pool Replacement
B. Relationship between the fee and the purpose for which it is charged.

There exists a reasonable relationship between the Unexpended Fee described above and the purpose for which it was charged because the improvements will acquire, develop and improve community and neighborhood parks in accordance with the Open Space Element and as set forth in the City of Campbell Parks and Recreation Quimby Act Fee Update dated December 9, 2019. The Fee is a means of ensuring that new developments construct their own parks or provide the City a means for acquisition, development and improvements to community and neighborhood parks in accordance with the Open Space Element.

C. Sources of funding anticipated to complete financing of incomplete improvements. Based on the City of Campbell Parks and Recreation Quimby Act Fee Update dated December 9, 2019, the weighted average of fair market value for parkland acquisition is Three Million Seven Hundred Twenty-One Thousand Eight Hundred Seventy-Three Dollars ($3,721,873) per acre. On Item 7.6
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November 5, 2019, the City Council approved a reduced valuation of Three Million ($3,000,000) per acre for calculating in-lieu fees for parkland acquisition.

According to Section 66477(a)(2) of the Government Code, the amount of land to be dedicated or in-lieu fees to be imposed shall not exceed the amount necessary to provide three (3) acres of parkland per 1,000 residents, unless certain criteria is met. The City General Plan Policy to use the Quimby Act to provide three (3) acres of community, neighborhood, and passive parks per 1,000 residents is consistent with this statutory requirement. Since the City currently provides fewer than three (3) acres per 1,000 residents, the City cannot impose a higher standard through the Quimby Program. All other costs that cannot be funded by the Parkland Dedication Fee are expected to be funded by outside grants.

D. Approximate dates on which the funding will be deposited. Parkland Dedication Fees are required to be deposited as developers obtain building permits; the dates on which future Fees will be collected is unknown.

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Exhibit 5
Five-Year Report of City of Campbell Vehicle Impact Fee for the Fiscal Year ended June 30, 2025
Summary: This Five-Year Report provides information and findings on unexpended funds in the Vehicle Impact Fee account as of June 30, 2025 pursuant to Government Code section 66001(d).

Fund Information: The Vehicle Impact Fund (202) does not currently contain any unexpended Vehicle Impact Fees to fund the cost of street replacement and maintenance due to the cumulative impact of construction and other commercial vehicles at development sites (“Unexpended Fee”).

Pursuant to Government Code section 66001(d)(1):

A. Purpose. Future Unexpended Vehicle Impact Fees will be used to fund the cost of street replacement and maintenance due to the cumulative impact of construction and other commercial vehicles at development sites as identified in the City of Campbell Road Maintenance Fees Analysis, dated June 2007 and the City’s Capital Improvement Program 2025-2029. The projects include:
a. 23BB – Annual Street Maintenance
b. 24MM – Bridge Conditions Assessment
c. 25DD – Campbell PDA Enhancements – Civic Center Dr at 2nd/3rd St d. 25PP – Comprehensive Traffic Safety Action Plan (SS4A) e. 27BB – Annual Street Maintenance
f. 28BB – Annual Street Maintenance
g. 29BB – Annual Street Maintenance
h. 30BB – Annual Street Maintenance
B. Relationship between the fee and the purpose for which it is charged.

There exists a reasonable relationship between the Unexpended Fee described above and the purpose for which it was charged because the improvements will fund the cost of street replacement and maintenance due to the cumulative impact of construction and other commercial vehicles at development sites as set forth in the City of Campbell Road Maintenance Fees Analysis, dated June 2007. The Fee is a means of ensuring that new developments mitigate the impacts of vehicles to streets and roadways as a result of their developments.

C. Sources of funding anticipated to complete financing of incomplete improvements. Based on the City of Campbell Road Maintenance Fees Analysis, dated June 2007, the rate of 0.32% of building permit valuation was established due to related estimated annual street maintenance costs of $244,292 caused by construction vehicles. All other costs that cannot be funded by the Vehicle Impact Fee are expected to be funded by state, county, and federal transportation allocations to the City as well as garage and permit fees.

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D. Approximate dates on which the funding will be deposited. Vehicle Impact Fees are required to be deposited as developers obtain building permits; the dates on which future Fees will be collected is unknown.

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City Council Report
DATE: December 2, 2025
TITLE: Community Facilities District No. 1 Report Fiscal Year (FY) 2024-25 RECOMMENDED ACTION:

That the City Council note and file the Annual Bond Accountability Report for the City’s Community Facilities District No. 1 (“CFD”) for Fiscal Year ending June 30, 2025, as mandated by the California Government Code Sections 53411 and 50075.3.

BACKGROUND
Senate Bill (SB) 165 enacted by the Local Agency Special Tax Bond Accountability Act requires the annual preparation of a report containing specific information concerning the use of the proceeds for annual special taxes for Community Facilities Districts (CFDs).

The Act only applies to CFD bonds issued on or after January 1, 2001, in accordance with Section 53410 of the California Government Code.

Section 53411 and 50075.3 of the California Government Code requires the Chief Financial Officer of the issuing local agency to file the annual report with its governing body. The report will be on file in the City Clerk’s Office for review by the public upon request.

The annual report shown as Attachment A will help to ensure compliance with Sections 53410, 53411 and 50075.3 of the California Government Code for Campbell Community Facilities District (CFD) No. 1 in FY 2024-25.

DISCUSSION
On October 2, 2012, the City Council provided its final approval for the annexation of the Cambrian 36 and Central Park neighborhoods in the City of Campbell, which concluded a process that began many years prior. Also approved at the same meeting was a resolution of intention to form a CFD under the Mello-Roos Community Facilities District Act of 1982 to provide a mechanism for the newly annexed residents to help pay for some of the costs to provide service to this area.

The CFD No. 1 tax levy was approved by those in the CFD No. 1 territory on April 16, 2013 by approximately 90.35%. Appendix A of the attached Annual Report shows the boundary areas of CFD No. 1. CFD No. 1 was officially established in 2013 and provides funding for the following services. The services include all related administrative costs, expenses, and related reserves for replacement of vehicles, equipment and facilities:

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 Fire Services - suppression and prevention, rescue services and equipment, land and buildings, cost of personnel and professional contract services and services related thereto.
 Law Enforcement - public protection and equipment, land and buildings, cost of personnel and professional contract services and services related thereto.  Flood and Storm Protection – operation and maintenance of storm drainage systems, cost of personnel and professional contract services and services related thereto.
 Street Maintenance - periodic maintenance and service of streets within the District, including street sweeping, cost of personnel and professional contract services and services related thereto.
 Recreation Programs – recreation program services, operation and maintenance of museums and other cultural facilities, cost of personnel and professional contract services and services related thereto.

The special tax shall be levied until June 2053 and began with FY 2013-14. There are two special tax rates for the district that are applied to two types of property, which shall not increase year over year per the Rate and Method of Apportionment (RMA):
 Single Family Detached Property types shall be levied a special tax at a rate of $325.00 per unit.
 Non-Residential Property types shall be levied a special tax at a rate of $600.00 per parcel.

The total maximum annual tax levy may not exceed $450,000 for all parcels within CFD No. 1. At this time though, with 409 Single Family Detached parcels and 24 NonResidential Parcels, the total annual tax levy is only $147,325. If additional parcels were added to CFD No. 1 in the future, causing the total annual levy to exceed $450,000, the assessment rate per parcel would be decreased to a level necessary to equal $450,000.

FISCAL IMPACT
The FY 2024-25 special tax levy for CFD No. 1 consisted of 431 parcels for a total of $146,400. Pursuant to the CFD’s RMA, NBS (the City’s CFD No. 1 Administrator) levied all taxable parcels at 100% of their respective maximum annual special tax. As of June 30, 2025, the delinquency rate for FY 2024-25 was 3.09% or $4,525. NBS will continue to monitor delinquencies to help ensure timely collection of funds.

Table 1 below provides a summary of revenues and expenditures for CFD No. 1 in FY 2024-25:

Table 1 –CFD No. 1 Summary for FY Ended 06/30/2025
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District 07/01/2024
Balance*
Collections &
Misc. Revenue**
Expenditures
***
06/30/2025
Balance
Status
CFD # 1 $982.74 $146,080.13 $149,186.11 ($2,123.24) Ongoing *Balance includes market value of Accumulated Investment Income shown in City Financial Statements, but may be higher once all investments reach maturity. **Revenue accounts for collections, delinquencies, and investment income. ***Expenditures reflect what is recorded against CFD#1 Fund in City Financial Statements.

Table 2 below provides further detail on expenditures within CFD No. 1 for the FY 2025- 26:

Table 2 –CFD No. 1 Budget Expenditures for FY 2025-26
Service Type Expenditures
Fire $260,881.92
Police 205,782.98
Street Maintenance 80,000.00
General Administrative Costs 15,000.00
Delinquency Management 0.00
Total Budget $561,664.90
Contribution from Other Sources**** (414,339.90)
TOTAL LEVY: $147,325
Levied Parcel Count 433
**** Represents the City’s contribution to the FY 2025-26 levy to provide Services at levels desired by the community without exceeding 100% of the CFD’s Maximum Special Tax.

The CFD No. 1 Tax Levy does not currently cover all associated service costs and the remainder are funded by other City funding sources.

As of the end of FY 2024-25, Fund 236 has an ending balance of ($2,123.24), but this is mainly due to investment earning being shown at market value and may become positive once such investments reach full maturity. Fund Balances are used for both operating and capital reserves, and may accumulate over time to cover unexpected expenses that may arise and to assist with cash flow needs. Estimated revenues and budgetary appropriations have been included in the FY 2025-26 Adopted Budget and no adjustments are requested at this time.

ALTERNATIVES

1. Do not accept the annual report and provide staff with other direction.

PREPARED BY: Will Fuentes, Finance Director
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Report Approval Details
Document Title: Report Community Facilities District No. 1 Report Fiscal Year (FY) 2024-25.docx
Attachments: CFD #1 Annual Report FY 2024-25.pdf
Final Approval
Date:

November 25, 2025
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
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Fiscal Year 2024/25 Annual Report for:

Community Facilities District No. 1
November 2025
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TABLE OF CONTENTS
District Summary ................................................................................................................... 1

1. SB 165: Local Agency Special Tax and Bond Accountability Act ........................................ 2

2. Special Tax Analysis ........................................................................................................ 3

2.1 Levy Summary ........................................................................................................... 3

2.2 Special Tax Rates ....................................................................................................... 4

2.3 Special Tax Rate Comparison .................................................................................... 4 Appendix A. District Boundary ............................................................................................... A Appendix B. Rate And Method Of Apportionment .................................................................. B Appendix C. Delinquency Summary Report ............................................................................ C Appendix D. Final Billing Detail Report .................................................................................. D Item 7.7
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City of Campbell
Fiscal Year 2024/25 Annual Report – Community Facilities District No. 1 1

DISTRICT SUMMARY
The City of Campbell (the “City”) established the Community Facilities District No. 1 (the “District”) in 2013 to provide funding for the following services, including all related administrative costs, expenses, and related reserves for replacement of vehicles, equipment, and facilities.

Fire Services – suppression and prevention, rescue services and equipment, land and buildings, cost of personnel and professional contract services and services related thereto.

Law Enforcement – public protection and equipment, land and buildings, cost of personnel and professional contract services and services related thereto.

Flood and Storm Protection – operation and maintenance of storm drainage systems, cost of personnel and professional contract services and services related thereto.

Street Maintenance – periodic maintenance and service of streets within the District, including street sweeping, cost of personnel and professional contract services and services related thereto.

Recreation Programs – recreation program services, operation and maintenance of museums and other cultural facilities, cost of personnel and professional contract services and services related thereto.

The Special Tax may be levied through the 2052/53 Fiscal Year, beginning with the 2013/14 Fiscal Year.

There are two special tax rates for the District that are applied to two types of property which will not increase year over year per the Rate and Method of Apportionment (RMA):
 Single Family Detached Property types may be levied a Special Tax at a rate of $325.00 per unit.  Non-Residential Property types may be levied a Special Tax at a rate of $600.00 per parcel.

Levy
The following table provides a summary of the Fiscal Year 2025/26 final levy amount.

Land Use Classification
Parcel
Count
FY 2025/26
Levy
Non-Residential 24 $14,400.00
Single-Family 409 132,925.00
Totals: 433 $147,325.00
Delinquencies
As of June 30, 2025, the Fiscal Year 2024/25 delinquency rate for the District is 3.09%, totaling $4,525.00.

Please refer to Appendix C for detailed information. NBS will continue to monitor delinquencies and recommend appropriate delinquency management actions as needed.

NBS
Yajaira Gonzalez, Administrator
Corina Chavez, Project Manager
Tiffany Ellis, Client Success Ambassador
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City of Campbell
Fiscal Year 2024/25 Annual Report – Community Facilities District No. 1 2

1. SB 165: LOCAL AGENCY SPECIAL TAX AND BOND

ACCOUNTABILITY ACT
Senate Bill 165, filed with the Secretary of State on September 19, 2000, enacted the Local Agency Special Tax and Bond Accountability Act (the “Act”). This Act requires that any local special tax or local bond measure subject to voter approval contain a statement indicating the specific purposes of the special tax, require that the proceeds of the special tax be applied to those purposes, require the creation of an account into which the proceeds shall be deposited, and require an annual report containing specified information concerning the use of the proceeds. The Act only applies to any local special tax measure or local bond measure adopted on or after January 1, 2001, in accordance with Section 50075.1 or Section 53410 of the California Government Code.

Some of the requirements of the Act are handled at the formation of the Special Tax District and others are handled through annual reports. This Section of this report intends to comply with Sections 50075.3 of the California Government Code that states:
“The chief fiscal officer of the issuing local agency shall file a report with its governing body no later than January 1, 2002, and at least once a year thereafter. The annual report shall contain both of the following:

1. The amount of funds collected and expended.

2. The status of any project required or authorized to be funded as identified in subdivision (a) of Sections 50075.1.”
The requirements of the Act apply to the Funds for the following:

City of Campbell
Community Facilities District No. 1
Purpose of Special Tax
The City of Campbell CFD No. 1 collects special taxes to fund services including all related administrative costs, expenses, and related reserves for replacement of vehicles, equipment, and facilities, as well as fire, law enforcement, flood and storm protection, street maintenance, and recreation program services.

The services funded by the Special Tax are ongoing on an annual basis.

Collections and Expenditures
Fund Name
06/30/2024
Balance
Amount
Collected
Amount
Expended
06/30/2025
Balance (2)
Special Tax Fund (1) $982.74 $146,080.13 $149,186.11 ($2,123.24) (1) The balances, amount collected and amount expended were provided by the City. (2) The fund balance is unaudited.

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City of Campbell
Fiscal Year 2024/25 Annual Report – Community Facilities District No. 1 3

2. SPECIAL TAX ANALYSIS

2.1 Levy Summary
A summary of the levy for Fiscal Year 2025/26 is shown in the table and chart below.

Description Amount
Fire $260,881.92
Police 205,782.98
Street Maintenance 80,000.00
Administrative Fees/Expenses (1) 15,000.00
Total Budget $561,664.90
Levy Credit (2) (414,339.90)
Total Special Tax Levy Amount: $147,325.00
Levied Parcel Count 433
(1) Includes County collection fees and installment rounding for tax roll purposes. (2) Represents the City’s contribution to the Fiscal Year 2025/26 levy to provide Services at levels desired by the community without exceeding 100% of the CFD’s Maximum Special Tax.

Fire
46%
Police
37%
Street Maintenance
14%
Administrative
Fees/Expenses
3%
FISCAL YEAR 2025/26 BUDGET
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City of Campbell
Fiscal Year 2024/25 Annual Report – Community Facilities District No. 1 4

2.2 Special Tax Rates
The Fiscal Year 2025/26 applied rates and special tax levy are shown in the table below.

Land Use Classification
Parcel
Count
FY 2025/26
Maximum
Tax Rate (1)
FY 2025/26
Applied
Tax Rate
Total FY 2025/26
Special Tax Levy
Non-Residential 24 $600.00 $600.00 $14,400.00
Single-Family 409 325.00 325.00 132,925.00
Totals: 433 $147,325.00
(1) The maximum special tax rate does not change as there is no annual inflator.

2.3 Special Tax Rate Comparison
The Fiscal Year 2025/26 applied tax rates compared to the prior year are shown below.

Land Use Classification
Parcel
Count
FY 2024/25
Applied
Tax Rate
FY 2025/26
Applied
Tax Rate
% Change in
Applied Tax Rate (1)
Non-Residential 24 $600.00 $600.00 0.0%
Single-Family 409 325.00 325.00 0.0%
(1) Represents the change between the current and prior year applied tax rates.

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City of Campbell
Fiscal Year 2024/25 Annual Report – Community Facilities District No. 1 A APPENDIX A. DISTRICT BOUNDARY
The following pages show the Boundary Maps for Community Facilities District No. 1.

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ANNEXATION MAP NO. 1

OF THE CITY OF CAMPBELL
COMMUNITY FACILITES DISTRICT NO. 1
FILED IN THE OFFICE OF THE CITY CLERK OF THE CITY OF CAMPBELL THIS _____ DAY OF __________, 20__.
_______________

CITY CLERK

I HEREBY CERTIFY THAT THE WITHIN MAP SHOWING PROPOSED BOUNDARIES OF ANNEXATION NO. 1 TO THE CITY OF CAMPBELL COMMUNITY FACILITIES DISTRICT NO. 1, COUNTY OF SANTA CLARA, STATE OF CALIFORNIA, WAS APPROVED BY THE

CITY COUNCIL OF THE CITY OF CAMPBELL, AT A MEETING THEREOF, HELD ON THE _____ DAY OF __________, 20__, BY ITS RESOLUTION NO._____. _______________

CITY CLERK
FILED THIS _____ DAY OF __________, 20__, AT THE HOUR OF _____ O'CLOCK __.M., IN BOOK _____ OF MAPS OF ASSESSMENT AND COMMUNITY FACILITIES DISTRICTS, AT PAGE _____ IN THE OFFICE OF THE COUNTY RECORDER IN THE COUNTY OF SANTA CLARA, STATE OF CALIFORNIA.
_____________

COUNTY RECORDER,

COUNTY OF SANTA CLARA

FOR PARTICULARS OF THE LINES AND DIMENSIONS OF ASSESSOR PARCELS,

REFERENCE IS MADE TO THE MAPS OF THE ASSESSOR, COUNTY OF SANTA CLARA, STATE OF CALIFORNIA.

REFERENCE IS HEREBY MADE TO THAT CERTAIN MAP ENTITLED "MAP OF

PROPOSED BOUNDARIES OF THE CITY OF CAMPBELL COMMUNITY FACILITIES DISTRICT NO. 1" COUNTY OF SANTA CLARA, STATE OF CALIFORNIA, FILED THE ___ DAY OF ___________, 20__, AT THE HOUR OF ____ O'CLOCK _M IN BOOK __ OF MAPS OF ASSESSMENT AND COMMUNITY FACILITIES DISTRICTS AT PAGE __, (DOCUMENT NO. _____________) IN THE OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF CALIFORNIA, WHICH THIS ANNEXATION MAP AFFECTS.

COUNTY OF SANTA CLARA

STATE OF CALIFORNIA BASCOM

CURTNER
CAMDEN
ERIN

MCGLINCEY
UNION

SHAMROCK

CAMBRIAN

SALERNO
DALLAS
HWY-17

CENTRAL-PARK
JOSEPH

OLYMPIA

NORMANDY

SHARP GRIFFITH

HOFFMAN

SWEETBRIAR

WHITE OAKS

PARSONS
NB17 ONRMP FR. WB CAMDEN
REGAS
LOIS

CAMPBALL TECHNOLOGY PKWY
NORMAN
NB17 ONRMP FR.EB STEX

PARKDALE
ANGELO

STANFIELD

TOMASINA

SWEETBRIAR
0 0.0375 0.075 0.15 0.225 0.3
¡
Miles
Legend
City Streets
Parcel Lines
Annexation Boundary
Annexation Parcels

Page 1 of 1 ends

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City of Campbell
Fiscal Year 2024/25 Annual Report – Community Facilities District No. 1 B APPENDIX B. RATE AND METHOD OF APPORTIONMENT
The following pages show the Rate and Method of Apportionment of the Special Tax.

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CITY OF CAMPBELL
COMMUNITY FACILITIES DISTRICT NO. 1

RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX
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CITY OF CAMPBELL
COMMUNITY FACILITIES DISTRICT NO. 1
CFD No. 1 Page 1 9/28/2012
A Special Tax shall be levied and collected in City of Campbell Community Facilities District No. 1 (the “District”) each Fiscal Year, in an amount determined by the application of the procedures described below. All of the real property in the District, unless exempted by the provisions hereof, shall be taxed for the purposes, to the extent and in the manner herein provided.

I. DEFINITIONS
The terms used herein shall have the following meanings:
“Acreage” or “Acre” means that acreage shown on the Assessor’s Parcel Map or in the Assessor’s Data for each Assessor’s Parcel. In the event that the Assessor’s Parcel Map or Assessor’s Data shows no acreage, the Acreage for any Assessor’s Parcel shall be determined by the District Administrator based upon the applicable condominium plan, final map or parcel map. “Act” means the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Division 2 of Title 5 of the Government Act of the State of California. “Administrative Expenses” means the following actual or reasonably estimated costs directly related to the administration of the District: the costs of computing the Annual Special Tax Requirement and the annual Special Tax and of preparing the annual Special Tax collection schedules; the costs of collecting the Special Taxes; the costs of the City or designee in complying with the disclosure requirements of applicable federal and state securities laws and the California Government Code (including the Act), including public inquiries regarding the Special Taxes; the costs of the City or designee related to an appeal of the Special Tax; the costs of commencing and pursuing to completion any foreclosure action arising from delinquent Special Taxes in the District; the costs of the City (including its legal counsel) related to the administration of any letter of credit or other security provided for the payment of Special Taxes, and any fees or expenses related to any such letters of credit. Administrative Expenses shall also include amounts advanced by the City for any administrative purposes of the District and an allocable share of the salaries and an allocable portion of City overhead costs relating to the foregoing. “Annual Services Costs” means the amounts required to fund services listed on Exhibit A. “Annual Special Tax Requirement” means (A) that amount with respect to the District determined by the Council or designee as required in any Fiscal Year to pay: (1) the Administrative Expenses, (2) the Annual Services Costs, (3) any amount required to replenish any reserve fund established in connection with the District, (4) reasonably anticipated delinquent Special Taxes based on the delinquency rate for Special Taxes levied in the previous Fiscal Year, and (B) less available funds. “Assessor’s Data” means Acreage or other Parcel information contained in the records of the County Assessor.
“Assessor’s Parcel” means a lot or parcel shown in an Assessor’s Parcel Map with an assigned Assessor’s Parcel number.
“Assessor’s Parcel Map” means an official map of the Assessor of the County designating parcels by Assessor’s Parcel number.
“City” means the City of Campbell, County of Santa Clara. “Council” means the City Council of the City, acting as the legislative body of the District. “County” means the County of Santa Clara, California.
"Developed Property" means, for each Fiscal Year, all Taxable Property, for which a building permit was issued prior to the June 1 preceding the Fiscal Year for which the Special Tax is being levied.

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CITY OF CAMPBELL
COMMUNITY FACILITIES DISTRICT NO. 1
CFD No. 1 Page 2 9/28/2012
“District” means the City of Campbell Community Facilities District No. 1. “District Administrator” means an official of the City, or designee or agent or consultant, responsible for determining the Annual Special Tax Requirement and providing for the levy and collection of Special Taxes each Fiscal Year.
“Exempt Property” means all property located within the boundaries of the District which is exempt from the Special Tax pursuant to Section V below.
“Finance Director” means the official of the City who is the chief financial officer or other comparable officer of the City or designee thereof.
“Fiscal Year” means the period from July 1st of any calendar year through June 30th of the following calendar year.
“Maximum Special Tax Rate” means the maximum Special Tax authorized for levy in any Fiscal Year that may apply to Taxable Property as described in Section III. “Non-Residential Property” means all property other than Single Family Detached Property or Public Property. “Parcel” means a lot or parcel with a parcel number assigned by the assessor of the County. “Proportionately” means that the ratio of the actual Special Tax levied in any Fiscal Year to the Maximum Special Tax Rate authorized to be levied in that Fiscal Year is equal for all Assessor’s Parcels. “Public Property” means property within the boundaries of the District owned by, irrevocably offered or dedicated to, or for which an easement for purposes of public or private road right-of-way has been granted to the federal government, the State of California, the County, the City, or any local government or other public agency. “Single Family Detached Property” means all parcels of Developed Property with a single residential structure on a single parcel where the dwelling unit does not share a common wall with another unit. “Special Tax” means the amount levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property to fund the Annual Special Tax Requirement.
“Taxable Property” means all property located within the boundaries of the District which is not exempt from the Special Tax pursuant to Section V below.
“Unit” means, for Single Family Detached Property, an individual single family residential unit..

II. DETERMINATION OF TAXABLE PARCELS
On July 1 of each Fiscal Year, the District Administrator shall determine the valid Assessor’s Parcel Numbers for the current Fiscal Year for all property within the District. If any Parcel numbers are no longer valid from the previous Fiscal Year, the District Administrator shall determine the new Parcel number or numbers that are in effect for the current Fiscal Year. To the extent a Parcel or Parcels are subdivided, consolidated or otherwise reconfigured, the Special Tax rates shall be assigned to the new Assessor’s Parcels pursuant to Section III.

Item 7.7
Tuesday, December 02, 2025 103 of 239

CITY OF CAMPBELL
COMMUNITY FACILITIES DISTRICT NO. 1
CFD No. 1 Page 3 9/28/2012
III. ANNUAL SPECIAL TAX - METHOD OF APPORTIONMENT
All property shall be subject to a Special Tax defined as follows, except as provided in Section V. The Special Tax shall be levied each Fiscal Year by the District Administrator. The Annual Special Tax Requirement shall be apportioned to each parcel within the District by the method shown below.

First. Determine the Annual Special Tax Requirement.

Second. Levy the Special Tax on each Parcel of Taxable Property Proportionately, up to the Maximum Special Tax Rate described in Table 1 to satisfy the Annual Special Tax Requirement. TABLE 1

MAXIMUM SPECIAL TAX RATES
Property Type Rate Per
Single Family Detached Property $325.00 Unit
Non-Residential Property 600.00 Parcel
The above rates shown in Table 1 are effective for the 2013/14 Fiscal Year and shall not increase.

IV. FORMULA FOR PREPAYMENT OF SPECIAL TAX OBLIGATIONS
The Special Tax may not be prepaid. V. EXEMPTIONS
Notwithstanding any other provision of this Rate and Method of Apportionment of Special Tax, no Special Taxes shall be levied on Public Property, except as otherwise provided in this Section. Any property acquired by a public entity for non-public use development shall be subject to the Special Tax. Until such time as another Parcel is annexed to the District, Assessor’s Parcel No. 412-28-049 shall be considered Taxable Property. Upon annexation of another Parcel to the District, Assessor’s Parcel No. 412-28-049 will no longer be subject to the Special Tax. The City expects to add additional properties to the District as a result of annexation proceedings.

VI. INTERPRETATION OF RATE AND METHOD OF APPORTIONMENT
The Council reserves the right to make minor administrative and technical changes to this document that do not materially affect the rate and method of apportioning the Maximum Special Tax Rates. In addition, the interpretation and application of any section of this document shall be at the Council’s discretion.

VII. MANNER AND DURATION OF SPECIAL TAX
The Special Tax shall be collected in the same manner and at the same time as ordinary ad valorem property taxes, provided that the City may directly bill the Special Tax, may collect the Special Tax at a different time or in a different manner if needed to meet the financial obligations of the District, and may collect delinquent Special Taxes through foreclosure or other available methods.

A Special Tax shall continue to be levied and collected within the District to fund the Annual Special Tax Requirement for a forty year term, beginning with the 2013/14 Fiscal Year through and including the 2052/53 Fiscal Year.

Item 7.7
Tuesday, December 02, 2025 104 of 239

CITY OF CAMPBELL
COMMUNITY FACILITIES DISTRICT NO. 1
CFD No. 1 Page 4 9/28/2012
EXHIBIT “A”
The City of Campbell Community Facilities District No. 1 will levy an Annual Special Tax for the purposes of providing funding for the following services. The services include all related administrative costs, expenses and related reserves for replacement of vehicles, equipment and facilities:

Fire Services - suppression and prevention, rescue services and equipment, land and buildings, cost of personnel and professional contract services and services related thereto. Law Enforcement - public protection and equipment, land and buildings, cost of personnel and professional contract services and services related thereto. Flood and Storm Protection – operation and maintenance of storm drainage systems, cost of personnel and professional contract services and services related thereto.

Street Maintenance - periodic maintenance and service of streets within the District, including street sweeping, cost of personnel and professional contract services and services related thereto.

Item 7.7
Tuesday, December 02, 2025 105 of 239
City of Campbell
Fiscal Year 2024/25 Annual Report – Community Facilities District No. 1 C APPENDIX C. DELINQUENCY SUMMARY REPORT
The following pages show the current Delinquency Summary Report.

Item 7.7
Tuesday, December 02, 2025 106 of 239
City of Campbell
Delinquency Summary Report
As of: 06/30/2025
Delinquent
Amount %
Billed
Installments
Paid
Installments
Delinquent
Installments
Delinquent
District Due Date Installments %
Billed
Amount
Paid
Amount
Delinquent
Amount
CFD No. 1 - Community Facilities District No. 1
08/01/2013 Billing:
12/10/2013 $72,850.00 $72,850.00 $0.00 0.00% 428 428 0 0.00% 04/10/2014 $72,850.00 $72,850.00 $0.00 0.00% 428 428 0 0.00% Subtotal: $145,700.00 $145,700.00 $0.00 0.00% 856 856 0 0.00% 08/01/2014 Billing:
12/10/2014 $72,850.00 $72,850.00 $0.00 0.00% 428 428 0 0.00% 04/10/2015 $72,850.00 $72,850.00 $0.00 0.00% 428 428 0 0.00% Subtotal: $145,700.00 $145,700.00 $0.00 0.00% 856 856 0 0.00% 08/01/2015 Billing:
12/10/2015 $72,850.00 $72,850.00 $0.00 0.00% 428 428 0 0.00% 04/10/2016 $72,850.00 $72,850.00 $0.00 0.00% 428 428 0 0.00% Subtotal: $145,700.00 $145,700.00 $0.00 0.00% 856 856 0 0.00% 08/01/2016 Billing:
12/10/2016 $72,850.00 $72,850.00 $0.00 0.00% 428 428 0 0.00% 04/10/2017 $72,850.00 $72,850.00 $0.00 0.00% 428 428 0 0.00% Subtotal: $145,700.00 $145,700.00 $0.00 0.00% 856 856 0 0.00% 08/01/2017 Billing:
12/10/2017 $72,850.00 $72,850.00 $0.00 0.00% 428 428 0 0.00% 04/10/2018 $72,850.00 $72,850.00 $0.00 0.00% 428 428 0 0.00% Subtotal: $145,700.00 $145,700.00 $0.00 0.00% 856 856 0 0.00% 08/01/2018 Billing:
12/10/2018 $73,175.00 $73,175.00 $0.00 0.00% 430 430 0 0.00% 04/10/2019 $73,175.00 $73,175.00 $0.00 0.00% 430 430 0 0.00% Subtotal: $146,350.00 $146,350.00 $0.00 0.00% 860 860 0 0.00% 08/01/2019 Billing:
12/10/2019 $73,175.00 $73,175.00 $0.00 0.00% 430 430 0 0.00% 04/10/2020 $73,175.00 $73,175.00 $0.00 0.00% 430 430 0 0.00% Subtotal: $146,350.00 $146,350.00 $0.00 0.00% 860 860 0 0.00% Copyright © 2012 by NBS Page 1 of 2 09/12/2025 01:23:11PM Item 7.7
Tuesday, December 02, 2025 107 of 239
City of Campbell
Delinquency Summary Report
As of: 06/30/2025
Delinquent
Amount %
Billed
Installments
Paid
Installments
Delinquent
Installments
Delinquent
District Due Date Installments %
Billed
Amount
Paid
Amount
Delinquent
Amount
CFD No. 1 - Community Facilities District No. 1
08/01/2020 Billing:
12/10/2020 $73,175.00 $73,175.00 $0.00 0.00% 430 430 0 0.00% 04/10/2021 $73,175.00 $73,175.00 $0.00 0.00% 430 430 0 0.00% Subtotal: $146,350.00 $146,350.00 $0.00 0.00% 860 860 0 0.00% 08/01/2021 Billing:
12/10/2021 $73,175.00 $73,175.00 $0.00 0.00% 430 430 0 0.00% 04/10/2022 $73,175.00 $73,175.00 $0.00 0.00% 430 430 0 0.00% Subtotal: $146,350.00 $146,350.00 $0.00 0.00% 860 860 0 0.00% 08/01/2022 Billing:
12/10/2022 $73,037.50 $73,037.50 $0.00 0.00% 430 430 0 0.00% 04/10/2023 $73,037.50 $73,037.50 $0.00 0.00% 430 430 0 0.00% Subtotal: $146,075.00 $146,075.00 $0.00 0.00% 860 860 0 0.00% 08/01/2023 Billing:
12/10/2023 $73,037.50 $73,037.50 $0.00 0.00% 432 430 0 0.00% 04/10/2024 $73,037.50 $72,875.00 $162.50 0.22% 432 429 1 0.23% Subtotal: $146,075.00 $145,912.50 $162.50 0.11% 864 859 1 0.12% 08/01/2024 Billing:
12/10/2024 $73,200.00 $72,225.00 $975.00 1.33% 431 425 6 1.39% 04/10/2025 $73,200.00 $69,650.00 $3,550.00 4.85% 431 410 21 4.87% Subtotal: $146,400.00 $141,875.00 $4,525.00 3.09% 862 835 27 3.13% CFD No. 1 Total: $1,752,450.00 $1,747,762.50 $4,687.50 0.27% 10,306 10,274 28 0.27% Copyright © 2012 by NBS Page 2 of 2 09/12/2025 01:23:11PM Item 7.7
Tuesday, December 02, 2025 108 of 239
City of Campbell
Fiscal Year 2024/25 Annual Report – Community Facilities District No. 1 D APPENDIX D. FINAL BILLING DETAIL REPORT
The following pages show the Final Billing Detail Report for Fiscal Year 2025/26.

Item 7.7
Tuesday, December 02, 2025 109 of 239
City of Campbell
Community Facilities District No. 1
Final Billing Detail Report for Fiscal Year 2025/26
Assessor's Parcel Number Property Address Land Use Classification Total Levy 412-24-015 Non-Residential Property $600.00
412-24-016 780 UNION AVE Single Family Detached Prop 325.00 412-24-017 760 UNION AVE Single Family Detached Prop 325.00 412-24-018 740 UNION AVE Single Family Detached Prop 325.00 412-24-019 720 UNION AVE Single Family Detached Prop 325.00 412-37-001 725 UNION AVE Single Family Detached Prop 325.00 412-37-003 761 UNION AVE Single Family Detached Prop 325.00 412-37-005 785 UNION AVE Single Family Detached Prop 325.00 412-37-006 805 CAMBRIAN DR Single Family Detached Prop 325.00 412-37-007 803 CAMBRIAN DR Single Family Detached Prop 325.00 412-37-008 787 CAMBRIAN DR Single Family Detached Prop 325.00 412-37-010 743 BRIARWOOD WAY Single Family Detached Prop 325.00 412-37-011 751 BRIARWOOD WAY Single Family Detached Prop 325.00 412-37-012 755 BRIARWOOD WAY Single Family Detached Prop 325.00 412-37-013 741 CAMBRIAN DR Single Family Detached Prop 325.00 412-37-014 715 CAMBRIAN DR Single Family Detached Prop 325.00 412-37-015 699 CAMBRIAN DR Single Family Detached Prop 325.00 412-37-016 679 CAMBRIAN DR Single Family Detached Prop 325.00 412-37-019 621 CAMBRIAN DR Single Family Detached Prop 325.00 412-37-020 603 CAMBRIAN DR Single Family Detached Prop 325.00 412-37-021 2542 SWEETBRIAR DR Single Family Detached Prop 325.00 412-37-022 2230 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-023 2228 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-024 2226 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-025 2224 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-026 2222 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-027 2220 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-028 2218 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-029 2216 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-030 2214 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-031 2212 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-032 2210 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-033 2208 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-034 2206 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-035 2204 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-036 2202 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-037 2198 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-038 2196 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-039 2194 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-056 2217 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-057 2221 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-064 2227 CENTRAL PARK DR Single Family Detached Prop 325.00 Slight variances may occur due to rounding
Copyright © 2013 by NBS Page 1 of 11 09/12/2025 01:45:46PM Item 7.7
Tuesday, December 02, 2025 110 of 239
City of Campbell
Community Facilities District No. 1
Final Billing Detail Report for Fiscal Year 2025/26
Assessor's Parcel Number Property Address Land Use Classification Total Levy 412-37-065 2229 CENTRAL PARK DR Single Family Detached Prop 325.00 412-37-069 641 CAMBRIAN DR Single Family Detached Prop 325.00 412-37-070 661 CAMBRIAN DR Single Family Detached Prop 325.00 412-37-071 773 UNION AVE Single Family Detached Prop 325.00 412-37-073 741 UNION AVE Single Family Detached Prop 325.00 412-37-074 738 BRIARWOOD WAY Single Family Detached Prop 325.00 412-37-075 736 BRIARWOOD WAY Single Family Detached Prop 325.00 412-37-076 734 BRIARWOOD WAY Single Family Detached Prop 325.00 412-38-001 2293 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-002 2285 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-003 2281 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-004 2275 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-005 2271 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-006 2267 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-007 2261 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-008 2255 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-009 2585 OAK PARK LN Single Family Detached Prop 325.00 412-38-010 2575 OAK PARK LN Single Family Detached Prop 325.00 412-38-011 2567 OAK PARK LN Single Family Detached Prop 325.00 412-38-012 2555 OAK PARK LN Single Family Detached Prop 325.00 412-38-013 2545 OAK PARK LN Single Family Detached Prop 325.00 412-38-014 2535 OAK PARK LN Single Family Detached Prop 325.00 412-38-015 2264 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-016 2268 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-017 2274 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-018 2276 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-019 2278 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-020 2280 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-021 2282 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-022 2284 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-023 2286 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-024 2288 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-025 2590 OAK PARK LN Single Family Detached Prop 325.00 412-38-026 2594 OAK PARK LN Single Family Detached Prop 325.00 412-38-027 2598 OAK PARK LN Single Family Detached Prop 325.00 412-38-028 2250 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-029 2254 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-030 2258 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-031 2262 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-032 2268 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-033 2272 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-034 2276 HIGHLAND PARK LN Single Family Detached Prop 325.00 Slight variances may occur due to rounding
Copyright © 2013 by NBS Page 2 of 11 09/12/2025 01:45:46PM Item 7.7
Tuesday, December 02, 2025 111 of 239
City of Campbell
Community Facilities District No. 1
Final Billing Detail Report for Fiscal Year 2025/26
Assessor's Parcel Number Property Address Land Use Classification Total Levy 412-38-035 2282 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-036 2286 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-037 2290 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-038 2294 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-039 2298 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-040 2302 HIGHLAND PARK LN Single Family Detached Prop 325.00 412-38-041 2303 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-042 2301 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-043 2297 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-044 2293 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-045 2291 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-046 2287 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-047 2285 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-048 2281 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-049 2279 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-050 2275 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-051 2273 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-052 2269 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-053 2265 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-054 2263 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-055 2261 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-056 2257 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-057 2253 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-058 2249 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-059 2245 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-060 2540 OAK PARK LN Single Family Detached Prop 325.00 412-38-061 2550 OAK PARK LN Single Family Detached Prop 325.00 412-38-062 2560 OAK PARK LN Single Family Detached Prop 325.00 412-38-063 2570 OAK PARK LN Single Family Detached Prop 325.00 412-38-067 2233 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-068 2237 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-075 2243 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-076 2244 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-077 2242 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-078 2240 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-079 2238 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-080 2236 CENTRAL PARK DR Single Family Detached Prop 325.00 412-38-081 2541 SWEETBRIAR DR Single Family Detached Prop 325.00 412-38-082 577 CAMBRIAN DR Single Family Detached Prop 325.00 412-38-083 565 CAMBRIAN DR Single Family Detached Prop 325.00 412-38-084 551 CAMBRIAN DR Single Family Detached Prop 325.00 412-38-085 535 CAMBRIAN DR Single Family Detached Prop 325.00 Slight variances may occur due to rounding
Copyright © 2013 by NBS Page 3 of 11 09/12/2025 01:45:46PM Item 7.7
Tuesday, December 02, 2025 112 of 239
City of Campbell
Community Facilities District No. 1
Final Billing Detail Report for Fiscal Year 2025/26
Assessor's Parcel Number Property Address Land Use Classification Total Levy 412-38-086 521 CAMBRIAN DR Single Family Detached Prop 325.00 412-39-001 520 CAMBRIAN DR Single Family Detached Prop 325.00 412-39-002 865 STONEHURST WAY Single Family Detached Prop 325.00 412-39-003 881 STONEHURST WAY Single Family Detached Prop 325.00 412-39-004 893 STONEHURST WAY Single Family Detached Prop 325.00 412-39-005 905 STONEHURST WAY Single Family Detached Prop 325.00 412-39-006 501 DALLAS DR Single Family Detached Prop 325.00 412-39-007 481 DALLAS DR Single Family Detached Prop 325.00 412-39-008 463 DALLAS DR Single Family Detached Prop 325.00 412-39-009 449 DALLAS DR Single Family Detached Prop 325.00 412-39-010 431 DALLAS DR Single Family Detached Prop 325.00 412-39-011 425 DALLAS DR Single Family Detached Prop 325.00 412-39-012 415 DALLAS DR Single Family Detached Prop 325.00 412-39-013 401 DALLAS DR Single Family Detached Prop 325.00 412-39-014 385 DALLAS DR Single Family Detached Prop 325.00 412-39-015 367 DALLAS DR Single Family Detached Prop 325.00 412-39-016 351 DALLAS DR Single Family Detached Prop 325.00 412-39-017 341 DALLAS DR Single Family Detached Prop 325.00 412-39-018 329 DALLAS DR Single Family Detached Prop 325.00 412-39-019 321 DALLAS DR Single Family Detached Prop 325.00 412-39-020 311 DALLAS DR Single Family Detached Prop 325.00 412-39-021 299 DALLAS DR Single Family Detached Prop 325.00 412-39-022 291 DALLAS DR Single Family Detached Prop 325.00 412-39-023 281 DALLAS DR Single Family Detached Prop 325.00 412-39-024 271 DALLAS DR Single Family Detached Prop 325.00 412-39-027 251 CURTNER AVE Single Family Detached Prop 325.00 412-39-028 280 DALLAS DR Single Family Detached Prop 325.00 412-39-029 300 DALLAS DR Single Family Detached Prop 325.00 412-39-030 320 DALLAS DR Single Family Detached Prop 325.00 412-39-031 348 DALLAS DR Single Family Detached Prop 325.00 412-39-032 933 NORIN CT Single Family Detached Prop 325.00 412-39-033 945 NORIN CT Single Family Detached Prop 325.00 412-39-034 955 NORIN CT Single Family Detached Prop 325.00 412-39-035 965 NORIN CT Single Family Detached Prop 325.00 412-39-036 966 NORIN CT Single Family Detached Prop 325.00 412-39-037 956 NORIN CT Single Family Detached Prop 325.00 412-39-038 946 NORIN CT Single Family Detached Prop 325.00 412-39-039 400 DALLAS DR Single Family Detached Prop 325.00 412-39-040 426 DALLAS DR Single Family Detached Prop 325.00 412-39-041 945 SALERNO DR Single Family Detached Prop 325.00 412-39-042 955 SALERNO DR Single Family Detached Prop 325.00 412-39-043 967 SALERNO DR Single Family Detached Prop 325.00 Slight variances may occur due to rounding
Copyright © 2013 by NBS Page 4 of 11 09/12/2025 01:45:46PM Item 7.7
Tuesday, December 02, 2025 113 of 239
City of Campbell
Community Facilities District No. 1
Final Billing Detail Report for Fiscal Year 2025/26
Assessor's Parcel Number Property Address Land Use Classification Total Levy 412-39-044 985 SALERNO DR Single Family Detached Prop 325.00 412-39-045 417 CURTNER AVE Single Family Detached Prop 325.00 412-39-046 405 CURTNER AVE Single Family Detached Prop 325.00 412-39-047 391 CURTNER AVE Single Family Detached Prop 325.00 412-39-048 375 CURTNER AVE Single Family Detached Prop 325.00 412-39-049 363 CURTNER AVE Single Family Detached Prop 325.00 412-39-050 349 CURTNER AVE Single Family Detached Prop 325.00 412-39-051 333 CURTNER AVE Single Family Detached Prop 325.00 412-39-052 260 DALLAS DR Single Family Detached Prop 325.00 412-39-053 261 DALLAS DR Single Family Detached Prop 325.00 412-39-054 281 CURTNER AVE Single Family Detached Prop 325.00 412-40-006 986 SALERNO DR Single Family Detached Prop 325.00 412-40-007 968 SALERNO DR Single Family Detached Prop 325.00 412-40-008 956 SALERNO DR Single Family Detached Prop 325.00 412-40-009 946 SALERNO DR Single Family Detached Prop 325.00 412-40-010 462 DALLAS DR Single Family Detached Prop 325.00 412-40-011 480 DALLAS DR Single Family Detached Prop 325.00 412-40-012 492 DALLAS DR Single Family Detached Prop 325.00 412-40-013 504 DALLAS DR Single Family Detached Prop 325.00 412-40-014 935 STONEHURST WAY Single Family Detached Prop 325.00 412-40-015 945 STONEHURST WAY Single Family Detached Prop 325.00 412-40-016 955 STONEHURST WAY Single Family Detached Prop 325.00 412-40-017 970 STONEHURST WAY Single Family Detached Prop 325.00 412-40-018 960 STONEHURST WAY Single Family Detached Prop 325.00 412-40-019 950 STONEHURST WAY Single Family Detached Prop 325.00 412-40-020 940 STONEHURST WAY Single Family Detached Prop 325.00 412-40-021 922 STONEHURST WAY Single Family Detached Prop 325.00 412-40-022 910 STONEHURST WAY Single Family Detached Prop 325.00 412-40-023 894 STONEHURST WAY Single Family Detached Prop 325.00 412-40-024 882 STONEHURST WAY Single Family Detached Prop 325.00 412-40-025 866 STONEHURST WAY Single Family Detached Prop 325.00 412-40-026 854 STONEHURST WAY Single Family Detached Prop 325.00 412-40-027 556 CAMBRIAN DR Single Family Detached Prop 325.00 412-40-028 835 SWEETBRIAR DR Single Family Detached Prop 325.00 412-40-029 851 SWEETBRIAR DR Single Family Detached Prop 325.00 412-40-030 863 SWEETBRIAR DR Single Family Detached Prop 325.00 412-40-031 879 SWEETBRIAR DR Single Family Detached Prop 325.00 412-40-032 891 SWEETBRIAR DR Single Family Detached Prop 325.00 412-40-033 905 SWEETBRIAR DR Single Family Detached Prop 325.00 412-40-034 923 SWEETBRIAR DR Single Family Detached Prop 325.00 412-40-035 939 SWEETBRIAR DR Single Family Detached Prop 325.00 412-41-001 940 SWEETBRIAR DR Single Family Detached Prop 325.00 Slight variances may occur due to rounding
Copyright © 2013 by NBS Page 5 of 11 09/12/2025 01:45:46PM Item 7.7
Tuesday, December 02, 2025 114 of 239
City of Campbell
Community Facilities District No. 1
Final Billing Detail Report for Fiscal Year 2025/26
Assessor's Parcel Number Property Address Land Use Classification Total Levy 412-41-002 920 SWEETBRIAR DR Single Family Detached Prop 325.00 412-41-003 906 SWEETBRIAR DR Single Family Detached Prop 325.00 412-41-004 894 SWEETBRIAR DR Single Family Detached Prop 325.00 412-41-005 880 SWEETBRIAR DR Single Family Detached Prop 325.00 412-41-006 868 SWEETBRIAR DR Single Family Detached Prop 325.00 412-41-007 854 SWEETBRIAR DR Single Family Detached Prop 325.00 412-41-008 600 CAMBRIAN DR Single Family Detached Prop 325.00 412-41-009 626 CAMBRIAN DR Single Family Detached Prop 325.00 412-41-010 831 SYDNOR DR Single Family Detached Prop 325.00 412-41-011 857 SYDNOR DR Single Family Detached Prop 325.00 412-41-012 873 SYDNOR DR Single Family Detached Prop 325.00 412-41-013 880 SYDNOR DR Single Family Detached Prop 325.00 412-41-014 870 SYDNOR DR Single Family Detached Prop 325.00 412-41-015 856 SYDNOR DR Single Family Detached Prop 325.00 412-41-016 832 SYDNOR DR Single Family Detached Prop 325.00 412-41-017 680 CAMBRIAN DR Single Family Detached Prop 325.00 412-41-018 700 CAMBRIAN DR Single Family Detached Prop 325.00 412-41-019 716 CAMBRIAN DR Single Family Detached Prop 325.00 412-41-020 736 CAMBRIAN DR Single Family Detached Prop 325.00 412-41-021 815 BRIARWOOD WAY Single Family Detached Prop 325.00 412-41-022 853 BRIARWOOD WAY Single Family Detached Prop 325.00 412-41-023 865 BRIARWOOD WAY Single Family Detached Prop 325.00 412-41-024 867 BRIARWOOD WAY Single Family Detached Prop 325.00 412-41-025 866 BRIARWOOD WAY Single Family Detached Prop 325.00 412-41-026 864 BRIARWOOD WAY Single Family Detached Prop 325.00 412-41-027 854 BRIARWOOD WAY Single Family Detached Prop 325.00 412-41-028 832 BRIARWOOD WAY Single Family Detached Prop 325.00 412-41-029 786 CAMBRIAN DR Single Family Detached Prop 325.00 412-41-030 802 CAMBRIAN DR Single Family Detached Prop 325.00 412-41-031 816 CAMBRIAN DR Single Family Detached Prop 325.00 412-41-032 820 CAMBRIAN DR Single Family Detached Prop 325.00 412-41-033 2623 S BASCOM AVE Non-Residential Property 600.00 412-41-034 2633 S BASCOM AVE Non-Residential Property 600.00 412-41-036 815 UNION AVE Non-Residential Property 600.00 412-41-037 831 UNION AVE Non-Residential Property 600.00 412-41-038 835 UNION AVE Non-Residential Property 600.00 412-41-039 2615 S BASCOM AVE Non-Residential Property 600.00 412-41-040 2623 S BASCOM AVE Non-Residential Property 600.00 412-41-041 2623 S BASCOM AVE Non-Residential Property 600.00 412-41-042 2633 S BASCOM AVE Non-Residential Property 600.00 412-42-008 950 SWEETBRIAR DR Single Family Detached Prop 325.00 414-01-002 1013 SHAMROCK DR Single Family Detached Prop 325.00 Slight variances may occur due to rounding
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Tuesday, December 02, 2025 115 of 239
City of Campbell
Community Facilities District No. 1
Final Billing Detail Report for Fiscal Year 2025/26
Assessor's Parcel Number Property Address Land Use Classification Total Levy 414-01-003 1025 SHAMROCK DR Single Family Detached Prop 325.00 414-01-004 1035 SHAMROCK DR Single Family Detached Prop 325.00 414-01-005 1047 SHAMROCK DR Single Family Detached Prop 325.00 414-01-006 1057 SHAMROCK DR Single Family Detached Prop 325.00 414-01-007 1061 SHAMROCK DR Single Family Detached Prop 325.00 414-01-008 1071 SHAMROCK DR Single Family Detached Prop 325.00 414-01-009 1081 SHAMROCK DR Single Family Detached Prop 325.00 414-01-010 1101 SHAMROCK DR Single Family Detached Prop 325.00 414-01-011 1113 SHAMROCK DR Single Family Detached Prop 325.00 414-01-012 1125 SHAMROCK DR Single Family Detached Prop 325.00 414-01-013 1131 SHAMROCK DR Single Family Detached Prop 325.00 414-01-014 1137 SHAMROCK DR Single Family Detached Prop 325.00 414-01-015 1145 SHAMROCK DR Single Family Detached Prop 325.00 414-01-016 1155 SHAMROCK DR Single Family Detached Prop 325.00 414-01-017 1169 SHAMROCK DR Single Family Detached Prop 325.00 414-01-018 1173 SHAMROCK DR Single Family Detached Prop 325.00 414-01-019 1181 SHAMROCK DR Single Family Detached Prop 325.00 414-01-020 1191 SHAMROCK DR Single Family Detached Prop 325.00 414-01-021 1211 SHAMROCK DR Single Family Detached Prop 325.00 414-01-022 1223 SHAMROCK DR Single Family Detached Prop 325.00 414-01-023 1235 SHAMROCK DR Single Family Detached Prop 325.00 414-01-024 1370 CAMDEN AVE Non-Residential Property 600.00 414-01-025 1360 CAMDEN AVE Non-Residential Property 600.00 414-01-026 1350 CAMDEN AVE Non-Residential Property 600.00 414-01-027 1330 CAMDEN AVE Non-Residential Property 600.00 414-01-028 1300 CAMDEN AVE Non-Residential Property 600.00 414-01-037 306 CURTNER AVE Single Family Detached Prop 325.00 414-01-038 320 CURTNER AVE Single Family Detached Prop 325.00 414-01-041 1055 ERIN WAY Single Family Detached Prop 325.00 414-01-042 1067 ERIN WAY Single Family Detached Prop 325.00 414-01-043 1079 ERIN WAY Single Family Detached Prop 325.00 414-01-044 1091 ERIN WAY Single Family Detached Prop 325.00 414-01-045 1101 ERIN WAY Single Family Detached Prop 325.00 414-01-046 1113 ERIN WAY Single Family Detached Prop 325.00 414-01-047 1123 ERIN WAY Single Family Detached Prop 325.00 414-01-048 1133 ERIN WAY Single Family Detached Prop 325.00 414-01-049 1141 ERIN WAY Single Family Detached Prop 325.00 414-01-050 1153 ERIN WAY Single Family Detached Prop 325.00 414-01-051 1179 ERIN WAY Single Family Detached Prop 325.00 414-01-052 1236 SHAMROCK DR Single Family Detached Prop 325.00 414-01-053 1206 SHAMROCK DR Single Family Detached Prop 325.00 414-01-054 1176 SHAMROCK DR Single Family Detached Prop 325.00 Slight variances may occur due to rounding
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Tuesday, December 02, 2025 116 of 239
City of Campbell
Community Facilities District No. 1
Final Billing Detail Report for Fiscal Year 2025/26
Assessor's Parcel Number Property Address Land Use Classification Total Levy 414-01-055 1162 SHAMROCK DR Single Family Detached Prop 325.00 414-01-056 1150 SHAMROCK DR Single Family Detached Prop 325.00 414-01-057 1128 SHAMROCK DR Single Family Detached Prop 325.00 414-01-058 1114 SHAMROCK DR Single Family Detached Prop 325.00 414-01-059 1102 SHAMROCK DR Single Family Detached Prop 325.00 414-01-060 1082 SHAMROCK DR Single Family Detached Prop 325.00 414-01-061 1070 SHAMROCK DR Single Family Detached Prop 325.00 414-01-062 1060 SHAMROCK DR Single Family Detached Prop 325.00 414-01-063 1058 SHAMROCK DR Single Family Detached Prop 325.00 414-01-064 1048 SHAMROCK DR Single Family Detached Prop 325.00 414-01-065 1034 SHAMROCK DR Single Family Detached Prop 325.00 414-01-066 1012 SHAMROCK DR Single Family Detached Prop 325.00 414-01-067 1035 ERIN WAY Single Family Detached Prop 325.00 414-01-068 1047 ERIN WAY Single Family Detached Prop 325.00 414-02-001 364 CURTNER AVE Single Family Detached Prop 325.00 414-02-002 378 CURTNER AVE Single Family Detached Prop 325.00 414-02-003 1015 NORMANDY DR Single Family Detached Prop 325.00 414-02-004 1031 NORMANDY DR Single Family Detached Prop 325.00 414-02-005 1045 NORMANDY DR Single Family Detached Prop 325.00 414-02-006 1055 NORMANDY DR Single Family Detached Prop 325.00 414-02-007 1067 NORMANDY DR Single Family Detached Prop 325.00 414-02-008 1081 NORMANDY DR Single Family Detached Prop 325.00 414-02-009 1093 NORMANDY DR Single Family Detached Prop 325.00 414-02-010 1107 NORMANDY DR Single Family Detached Prop 325.00 414-02-011 1123 NORMANDY DR Single Family Detached Prop 325.00 414-02-012 1135 NORMANDY DR Single Family Detached Prop 325.00 414-02-013 1151 NORMANDY DR Single Family Detached Prop 325.00 414-02-014 1161 NORMANDY DR Single Family Detached Prop 325.00 414-02-015 1185 NORMANDY DR Single Family Detached Prop 325.00 414-02-016 1197 NORMANDY DR Single Family Detached Prop 325.00 414-02-017 1205 NORMANDY DR Single Family Detached Prop 325.00 414-02-018 1206 ERIN WAY Single Family Detached Prop 325.00 414-02-019 1200 ERIN WAY Single Family Detached Prop 325.00 414-02-020 1190 ERIN WAY Single Family Detached Prop 325.00 414-02-021 1176 ERIN WAY Single Family Detached Prop 325.00 414-02-022 1162 ERIN WAY Single Family Detached Prop 325.00 414-02-023 1156 ERIN WAY Single Family Detached Prop 325.00 414-02-024 1142 ERIN WAY Single Family Detached Prop 325.00 414-02-025 1132 ERIN WAY Single Family Detached Prop 325.00 414-02-026 1122 ERIN WAY Single Family Detached Prop 325.00 414-02-027 1108 ERIN WAY Single Family Detached Prop 325.00 414-02-028 1094 ERIN WAY Single Family Detached Prop 325.00 Slight variances may occur due to rounding
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Tuesday, December 02, 2025 117 of 239
City of Campbell
Community Facilities District No. 1
Final Billing Detail Report for Fiscal Year 2025/26
Assessor's Parcel Number Property Address Land Use Classification Total Levy 414-02-029 1080 ERIN WAY Single Family Detached Prop 325.00 414-02-030 1068 ERIN WAY Single Family Detached Prop 325.00 414-02-031 1056 ERIN WAY Single Family Detached Prop 325.00 414-02-032 1046 ERIN WAY Single Family Detached Prop 325.00 414-02-033 1034 ERIN WAY Single Family Detached Prop 325.00 414-02-034 1022 ERIN WAY Single Family Detached Prop 325.00 414-02-035 418 CURTNER AVE Single Family Detached Prop 325.00 414-02-036 428 CURTNER AVE Single Family Detached Prop 325.00 414-02-037 1017 SALERNO DR Single Family Detached Prop 325.00 414-02-038 1033 SALERNO DR Single Family Detached Prop 325.00 414-02-039 1045 SALERNO DR Single Family Detached Prop 325.00 414-02-040 1057 SALERNO DR Single Family Detached Prop 325.00 414-02-041 1067 SALERNO DR Single Family Detached Prop 325.00 414-02-042 1089 SALERNO DR Single Family Detached Prop 325.00 414-02-043 1101 SALERNO DR Single Family Detached Prop 325.00 414-02-044 1115 SALERNO DR Single Family Detached Prop 325.00 414-02-045 1131 SALERNO DR Single Family Detached Prop 325.00 414-02-046 1145 SALERNO DR Single Family Detached Prop 325.00 414-02-047 1159 SALERNO DR Single Family Detached Prop 325.00 414-02-048 1173 SALERNO DR Single Family Detached Prop 325.00 414-02-049 1187 SALERNO DR Single Family Detached Prop 325.00 414-02-050 1201 SALERNO DR Single Family Detached Prop 325.00 414-02-051 425 SHAMROCK DR Single Family Detached Prop 325.00 414-02-052 415 SHAMROCK DR Single Family Detached Prop 325.00 414-02-053 1200 NORMANDY DR Single Family Detached Prop 325.00 414-02-054 1184 NORMANDY DR Single Family Detached Prop 325.00 414-02-055 1170 NORMANDY DR Single Family Detached Prop 325.00 414-02-056 1166 NORMANDY DR Single Family Detached Prop 325.00 414-02-057 1144 NORMANDY DR Single Family Detached Prop 325.00 414-02-058 1130 NORMANDY DR Single Family Detached Prop 325.00 414-02-059 1116 NORMANDY DR Single Family Detached Prop 325.00 414-02-060 1100 NORMANDY DR Single Family Detached Prop 325.00 414-02-061 1088 NORMANDY DR Single Family Detached Prop 325.00 414-02-062 1068 NORMANDY DR Single Family Detached Prop 325.00 414-02-063 1056 NORMANDY DR Single Family Detached Prop 325.00 414-02-064 1046 NORMANDY DR Single Family Detached Prop 325.00 414-02-065 1032 NORMANDY DR Single Family Detached Prop 325.00 414-02-066 1016 NORMANDY DR Single Family Detached Prop 325.00 414-04-001 1546 CAMDEN AVE Non-Residential Property 600.00 414-04-002 1536 CAMDEN AVE Non-Residential Property 600.00 414-04-003 1524 CAMDEN AVE Non-Residential Property 600.00 414-04-004 1510 CAMDEN AVE Non-Residential Property 600.00 Slight variances may occur due to rounding
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City of Campbell
Community Facilities District No. 1
Final Billing Detail Report for Fiscal Year 2025/26
Assessor's Parcel Number Property Address Land Use Classification Total Levy 414-04-005 1500 CAMDEN AVE Non-Residential Property 600.00 414-04-007 1476 CAMDEN AVE Single Family Detached Prop 325.00 414-04-008 1450 CAMDEN AVE Non-Residential Property 600.00 414-04-009 1402 CAMDEN AVE Non-Residential Property 600.00 414-04-010 1260 ERIN WAY Non-Residential Property 600.00 414-04-011 334 SHAMROCK DR Single Family Detached Prop 325.00 414-04-012 354 SHAMROCK DR Single Family Detached Prop 325.00 414-04-013 364 SHAMROCK DR Single Family Detached Prop 325.00 414-04-014 1273 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-015 1291 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-016 1301 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-017 1315 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-018 1327 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-021 1361 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-023 1374 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-024 1352 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-025 1430 LOIS WAY Single Family Detached Prop 325.00 414-04-026 1420 LOIS WAY Single Family Detached Prop 325.00 414-04-027 1421 LOIS WAY Single Family Detached Prop 325.00 414-04-028 1431 LOIS WAY Single Family Detached Prop 325.00 414-04-029 1326 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-030 1310 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-031 1284 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-032 388 SHAMROCK DR Single Family Detached Prop 325.00 414-04-033 396 SHAMROCK DR Single Family Detached Prop 325.00 414-04-034 404 SHAMROCK DR Single Family Detached Prop 325.00 414-04-035 414 SHAMROCK DR Single Family Detached Prop 325.00 414-04-036 422 SHAMROCK DR Single Family Detached Prop 325.00 414-04-037 430 SHAMROCK DR Single Family Detached Prop 325.00 414-04-038 440 SHAMROCK DR Single Family Detached Prop 325.00 414-04-039 450 SHAMROCK DR Single Family Detached Prop 325.00 414-04-040 462 SHAMROCK DR Single Family Detached Prop 325.00 414-04-041 1490 CAMDEN AVE Non-Residential Property 600.00 414-04-042 1373 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-043 Single Family Detached Prop 325.00
414-04-044 1351 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-045 1355 OLYMPIA AVE Single Family Detached Prop 325.00 414-04-046 Single Family Detached Prop 325.00
414-04-047 Single Family Detached Prop 325.00
414-05-037 1206 SALERNO DR Single Family Detached Prop 325.00 414-05-038 1188 SALERNO DR Single Family Detached Prop 325.00 414-05-039 1174 SALERNO DR Single Family Detached Prop 325.00 Slight variances may occur due to rounding
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Tuesday, December 02, 2025 119 of 239
City of Campbell
Community Facilities District No. 1
Final Billing Detail Report for Fiscal Year 2025/26
Assessor's Parcel Number Property Address Land Use Classification Total Levy 414-05-040 1162 SALERNO DR Single Family Detached Prop 325.00 414-05-041 1150 SALERNO DR Single Family Detached Prop 325.00 414-05-042 1136 SALERNO DR Single Family Detached Prop 325.00 414-05-043 1122 SALERNO DR Single Family Detached Prop 325.00 414-05-044 1108 SALERNO DR Single Family Detached Prop 325.00 414-05-045 1092 SALERNO DR Single Family Detached Prop 325.00 414-05-046 1080 SALERNO DR Single Family Detached Prop 325.00 414-05-047 1066 SALERNO DR Single Family Detached Prop 325.00 414-05-048 1058 SALERNO DR Single Family Detached Prop 325.00 414-05-049 1046 SALERNO DR Single Family Detached Prop 325.00 414-05-050 1034 SALERNO DR Single Family Detached Prop 325.00 414-05-051 460 CURTNER AVE Single Family Detached Prop 325.00 414-05-052 470 CURTNER AVE Single Family Detached Prop 325.00 433 Accounts $147,325.00
Slight variances may occur due to rounding
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Tuesday, December 02, 2025 120 of 239
City Council Report
DATE: December 2, 2025
TITLE: Community Facilities District No. 2 Report Fiscal Year (FY) 2024-25 RECOMMENDED ACTION:

That the City Council note and file the Annual Bond Accountability Report for the City’s Community Facilities District No. 2 (“CFD”) for Fiscal Year ending June 30, 2025, as mandated by the California Government Code sections 53411 and 50075.3.

BACKGROUND
Senate Bill (SB) 165 enacted the Local Agency Special Tax Bond Accountability Act requires the annual preparation of a report containing specific information concerning the use of the proceeds for annual special taxes for Community Facilities Districts (CFDs).

The Act only applies to CFD bonds issued on or after January 1, 2001 in accordance with Section 53410 of the California Government Code.

Section 53411 and 50075.3 of the California Government Code requires the Chief Financial Officer of the issuing local agency to file the annual report with its governing body. The report will be on file with the City Clerk for review by the public upon request.

The report and accompanying Attachment 1 will help to ensure compliance with Sections 53410, 53411 and 50075.3 of the California Government Code for Campbell Community Facilities District (CFD) No. 2 in FY 2024-25.

DISCUSSION
On November 19, 2013, the City Council approved the formation of CFD No. 2 under the Mello-Roos Community Facilities District Act of 1982 to provide administration and funding for the inspection, operation, maintenance, and monitoring of low impact development (LID) stormwater treatment facilities proposed for installation with a new D.R. Horton Bay, Inc. subdivision and public street located at 1181 Abbott Avenue.

Appendix A of Attachment 1 shows the boundary areas of CFD No. 2.

Pursuant to the 2013 City Council actions referenced, the CFD was formed and Tax Zone 1 was created. Since that time, there have been two additional annexations and the creation of two additional tax zones. In 2015, Tax Zone 2 was created, and parcels annexed into the CFD. Then in 2017, Tax Zone 3 was created, and parcels annexed into the CFD. These tax zones had the following rates for FY 2024-25:

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• Tax Zone 1: $1,914.48
• Tax Zone 2: $2,082.34
• Tax Zone 3: $2,100.22
In FY 2024-25, 25 parcels were levied for a total of $50,672.92; with $48,170.98 remitted to City net of a 1% administration fee from the County. Delinquent amounts not paid in the current year may be paid in future years or became a tax lien against the property.

The special tax may be levied in perpetuity if services continue to be provided.

FISCAL IMPACT
The following provides a summary of revenues and expenditures for CFD No. 2 in FY 2024-25:

Table 1 –CFD No. 2 Summary for FY Ended 06/30/2025
District 07/01/2024
Balance
Collections &
Misc. Revenue
Expenditures 06/30/2025
Balance
Status
CFD #2 $224,342.65 $60,288.68 $26,494.61 $258,136.72 Ongoing All revenues and expenditures summarized above were realized in FY 2024-25 under Fund 237 (CFD No. 2). As of the end of FY 2024-25, Fund 237 had an ending balance of $258,136.72. Fund Balances are used for both operating and capital reserves, and may accumulate over time to cover unexpected expenses that may arise and to assist with cash flow needs. Estimated revenues and budgetary appropriations have been included in the FY 2025-26 Adopted Budget and no adjustments are requested at this time.

ALTERNATIVES

1. Do not accept the annual report and provide staff with other direction.

PREPARED BY: Will Fuentes, Finance Director
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Report Approval Details
Document Title: Report Community Facilities District No. 2 Report Fiscal Year (FY) 2024-25.docx
Attachments: Campbell CFD 2 FY 2024-25 Annual Report (Including Maps and Appendix).pdf
Final Approval
Date:

November 25, 2025
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 7.8
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Community Facilities District No. 2
(Public Services)
Fiscal Year 2024-25
Annual Report
November 19, 2025
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City of Campbell – Community Facilities District No. 2 (Public Services) Fiscal Year 2024-25 Annual Report
i

TABLE OF CONTENTS
Page No.

Background...........................................................................................................1 Boundaries of the CFD .........................................................................................1 Authorized Services..............................................................................................2 Revenues and Expenditures.................................................................................3 Annual Special Tax Rates and Levy .....................................................................4 Appendix A – Boundary Map ............................................................................ A-1 Appendix B – Special Tax Roll.......................................................................... B-1 Item 7.8
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City of Campbell – Community Facilities District No. 2 (Public Services) Fiscal Year 2024-25 Annual Report
1 Background
On October 15, 2013, the Campbell City Council adopted a “Resolution of the City Council of the City of Campbell Intending to Establish a Community Facilities District” (the “Resolution of Intention”), stating its intention to form the City of Campbell (the “City”) Community Facilities District No. 2 (Public Services) (the “CFD”) pursuant to the Mello-Roos Community Facilities Act of 1982, Sections 53311 et. seq., California Government Code (the “Act”) to finance certain municipal services (the “Services”) by levying special taxes (the “Special Taxes”) in the CFD.

On November 19, 2013, the Campbell City Council held a public hearing, adopted the “Resolution of the City Council of the City of Campbell Forming a Community Facilities District” (the “Resolution of Formation”), adopted the “Resolution of the City Council of the City of Campbell Calling Special Landowner Election for a Community Facilities District” (“Resolution Calling Election”), conducted an election where ballots returned were canvassed, and adopted the “Resolution of the City Council of the City of Campbell Declaring Results of the Special Landowner Election and Directing the Recording of the Notice of Special Tax Lien” (“Resolution Declaring Results”).

Then in 2017, Tax Zone 3 was created, and parcels annexed into the CFD.

The CFD levies an annual special tax on properties in the CFD to pay for the authorized services.

The special tax may be levied in perpetuity if services continue to be provided.

This annual report provides the boundaries of the CFD, the authorized services that the special taxes may pay for, the Fiscal Year 2024-25 revenues and expenditures, Fiscal Year 2024-25 annual special tax rates and levy amount, and the Fiscal Year 2024-25 special tax roll.

Boundaries of the CFD
The City Council of the City also declared in the Resolution of Intention its intent to form a future annexation area (the “Future Annexation Area”) for the CFD. Parcels within the Future Annexation area may be annexed to the CFD only with the unanimous approval of the owner or owners of each parcel(s) that are to be annexed. The boundary map showing the boundaries of each tax zone within the CFD and the Future Annexation Area of the CFD is in Appendix A.

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City of Campbell – Community Facilities District No. 2 (Public Services) Fiscal Year 2024-25 Annual Report
2 Authorized Services
The CFD is authorized to finance in whole or in part, the following maintenance services (“services” shall have the meaning given to that term in the Act), including but not limited to:
• Annual operation, maintenance, and servicing, including repair and replacement of the storm water treatment facilities, including, but not limited to, low impact development storm water treatment facilities, bio-retention basins and associated facilities which service the properties located within the boundaries of the CFD. The annual operation, maintenance and servicing of the low impact development storm water treatment facilities, bio-retention basins and associated facilities may also include, but are not limited to field inspections, record keeping, cost of permits and regulatory fees, environmental mitigation and/or monitoring, annual reporting, vegetation management, removal of silt, sediment, trash and debris from the treatment areas, bio-retention basins and City catch basins, and any other associated services which are needed to operate, maintain and service, including repair and replacement, of the storm water treatment facilities.
• Costs associated with the setting, levy, and collection of the special taxes. • Contingency costs, including a contingency and/or reserve for operating and capital reserves, as required by the City.

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City of Campbell – Community Facilities District No. 2 (Public Services) Fiscal Year 2024-25 Annual Report
3 Revenues and Expenditures
The Fiscal Year 2024-25 beginning and ending fund balances, the revenues, and the expenditures for the CFD are in the table below.

Description
Fiscal Year
2024-25 Total
Revenues
Special Taxes $48,170.98
Investment and Interest Earnings $11,992.70
Other $125.00
Total Revenues $60,288.68
Expenses
Operating Transfers $12,000.00
Utilities $5,279.49
Professional & Special Services $2,690.00
Other Contractual Services $6,525.12
Total Expenses $26,494.61
Contribution to Fund Balance $33,794.07
Fund Balance Information1
Beginning Balance $224,342.65
Ending Balance $258,136.72
1 Fund Balance is used for both operating and capital reserves, and may accumulate to cover unexpected expenses that may arise and to assist with cashflow.

CFD No. 2 (Public Services)
Fiscal Year 2024-25 Revenues and Expenditures
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City of Campbell – Community Facilities District No. 2 (Public Services) Fiscal Year 2024-25 Annual Report
4 Annual Special Tax Rates and Levy
The table below shows the Fiscal Year 2024-25 maximum annual special tax rates and the applied annual special tax rates that were levied for each tax zone.

In Fiscal Year 2024-25, twenty-five (25) parcels were levied for a total of $50,672.92. A copy of the special tax amount levied for each parcel within the CFD is in Appendix B.

Tax Zone
Maximum Annual
Special Tax Rate
Applied Annual
Special tax Rate
1 $2,797.97 $1,914.48
2 $2,782.34 $2,082.34
3 $2,494.72 $2,100.22
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City of Campbell – Community Facilities District No. 2 (Public Services) Fiscal Year 2024-25 Annual Report
A-1

APPENDIX A

BOUNDARY MAP
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City of Campbell
Community Facilities District No. 2
(Public Services)
Boundary Map
¯ 2,000 1,000 0 2,000 4,000
Feet
Sheet 1 of 4
Legend
CFD No. 2 District Boundary
CFD No. 2 Future Annexation Area,
City of Campbell Boundary
Parcel Lines
Tax Zone 2
(see Sheet 3)
Tax Zone 1
(see Sheet 2)
Tax Zone 3
(see Sheet 4)
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City of Campbell
Community Facilities District No. 2
(Public Services)
Boundary Map
¯ 80 40 0 80 160
Feet
Sheet 2 of 4

HACIENDA AVE
AB
BOTT
AVE
1 2
3 4
5 6
7 8
9 10
Tax Zone 1
ARC
H
E
R
WY
LAU
REN
CE
HILL
CT
Legend
CFD No. 2 District Boundary
Reference Number
Parcel Lines
1 Reference
Number
Assessor
Parcel
Number
1 403-15-087
2 403-15-088
3 403-15-089
4 403-15-090
5 403-15-091
6 403-15-092
7 403-15-093
8 403-15-094
9 403-15-095
10 403-15-096
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City of Campbell
Community Facilities District No. 2
(Public Services)
Boundary Map
¯ 50 25 0 50 100
Feet
Sheet 3 of 4

WESTMONT AVE
J
A
S
MIN
E
C
T
Tax Zone 2
Legend
CFD No. 2 District Boundary
Reference Number
Parcel Lines
1 9
8 7
6 5
4 3
2 1
Reference
Number
Assessor
Parcel
Number
1 403-10-128
2 403-10-129
3 403-10-130
4 403-10-131
5 403-10-132
6 403-10-133
7 403-10-134
8 403-10-135
9 403-10-136
Item 7.8
Tuesday, December 02, 2025 133 of 239
City of Campbell
Community Facilities District No. 2
(Public Services)
Boundary Map
¯ 130 65 0 130 260
Feet
Sheet 4 of 4

W HACIENDA AVE
ABBOTT
AVE
Tax Zone 3
1 2
7 3
4 5
6 Legend
CFD No. 2 District Boundary
Reference Number
Parcel Lines
1 Reference
Number
Assessor
Parcel
Number
1 403-15-098
2 403-15-099
3 403-15-100
4 403-15-101
5 403-15-102
6 403-15-103
7 403-15-104
Item 7.8
Tuesday, December 02, 2025 134 of 239
City of Campbell – Community Facilities District No. 2 (Public Services) Fiscal Year 2024-25 Annual Report
B-1

APPENDIX B

SPECIAL TAX ROLL
Item 7.8
Tuesday, December 02, 2025 135 of 239
CITY OF CAMPBELL - COMMUNITY FACILITIES DISTRICT NO. 2
FISCAL YEAR 2024/25 TAX ROLL
PARCEL
NUMBER
TAX
ZONE

FISCAL YEAR
2024/25 TAX
403-10-128 Tax Zone 2 $2,082.34
403-10-129 Tax Zone 2 $2,082.34
403-10-130 Tax Zone 2 $2,082.34
403-10-131 Tax Zone 2 $2,082.34
403-10-132 Tax Zone 2 $2,082.34
403-10-133 Tax Zone 2 $2,082.34
403-10-134 Tax Zone 2 $2,082.34
403-10-135 Tax Zone 2 $2,082.34
403-10-136 Tax Zone 2 $2,082.34
403-15-087 Tax Zone 1 $1,914.48
403-15-088 Tax Zone 1 $1,914.48
403-15-089 Tax Zone 1 $1,914.48
403-15-090 Tax Zone 1 $1,914.48
403-15-091 Tax Zone 1 $1,914.48
403-15-092 Tax Zone 1 $1,914.48
403-15-093 Tax Zone 1 $1,914.48
403-15-094 Tax Zone 1 $1,914.48
403-15-095 Tax Zone 1 $1,914.48
403-15-098 Tax Zone 3 $2,100.22
403-15-099 Tax Zone 3 $2,100.22
403-15-100 Tax Zone 3 $2,100.22
403-15-101 Tax Zone 3 $2,100.22
403-15-102 Tax Zone 3 $2,100.22
403-15-103 Tax Zone 3 $2,100.22
403-15-104 Tax Zone 3 $2,100.22
TOTAL $50,672.92
Item 7.8
Tuesday, December 02, 2025 136 of 239
City Council Report
DATE: December 2, 2025
TITLE: Resolution Declaring Weeds a Public Nuisance and Scheduling a Public Hearing (Resolution/ Roll Call Vote)
RECOMMENDED ACTION:

That the City Council adopt a resolution declaring weeds a public nuisance, and setting February 3, 2026, as the date for a public hearing to hear protests.

DISCUSSION
Chapter 17.54 of the Campbell Municipal Code governs the abatement of hazardous vegetation (weeds) on private property and/or adjoining rights-of-way. The Chapter requires that upon a declaration of the City Council that weeds constitute a public nuisance, owners of properties determined to contain hazardous vegetation be notified that it is their responsibility to remove the vegetation "without delay." The notice further advises that unless the weeds are voluntarily removed, the removal will be performed through the Santa Clara County Agricultural Commissioner’s Office, the cost of which will be placed as a lien on the property tax roll. Property owners may protest this determination at a set public hearing.

The attached resolution declares weeds to be a public nuisance and sets a public hearing date of February 17, 2026. The Commissioner’s Office will provide a list of properties having hazardous vegetation prior to this meeting. Property owners will be notified that they may attend this meeting to protest the inclusion of their property on the List of Hazardous Vegetation.

FISCAL IMPACT
There is no fiscal impact to the City. All associated costs to remove hazardous vegetation will be borne by property owners under supervision of the Commissioner’s Office.

ALTERNATIVES
Take no action.

Item 7.9
Tuesday, December 02, 2025 137 of 239
PREPARED BY: Randy Sweet, Code Enforcement Officer
Item 7.9
Tuesday, December 02, 2025 138 of 239
Report Approval Details
Document Title: Report Resolution Declaring Weeds a Public Nuisance .docx Attachments: 2026 Weed Abatement Resolution.docx
2026 Commencement Report.pdf
Final Approval Date: November 24, 2025
This document and all of its attachments were approved and signed as outlined below:

Rob Eastwood, Community Development Director
Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 7.9
Tuesday, December 02, 2025 139 of 239
RESOLUTION NO.______

BEING A RESOLUTION OF THE CITY COUNCIL OF THE

CITY OF CAMPBELL DECLARING WEEDS A PUBLIC

NUISANCE AND SCHEDULING A PUBLIC HEARING
WHEREAS, the growth of weeds and indigenous grasses accumulate annually upon private property, including that property located in the public right-of-way, streets, alleys and sidewalks in the City of Campbell; and
WHEREAS, weeds and indigenous grasses may attain such large growth as to become, when dry, a fire hazard to adjacent improved property;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Campbell, California, hereby declares that all weeds growing upon any private property or in any right of way, street or alley, as defined in Sections 17.54.010 and 17.54.020 of the Campbell Municipal Code, constitutes a public nuisance, which nuisance must be abated by the destruction or removal thereof. The Agricultural Commissioner is hereby ordered to give notice of the passage of this resolution stating that, unless such nuisance is abated without delay by the destruction or removal of such weeds, the work of abating such nuisance will be done by the City authorities; and the expense thereof assessed upon the lots and lands from which, and/or in the front of which, such weeds shall have been destroyed or removed.

All property owners having any objections to the proposed destruction or removal of such weeds are hereby notified to attend a meeting of the City Council to be held in the Council Chambers of City Hall, 70 N. First Street, Campbell, California, on Tuesday, February 17, 2026, at 7:00 p.m., when and where their objections will be heard and given due consideration.

PASSED AND ADOPTED this ___th day of _____, 2025, by the following roll call vote:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSTAINED: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

APPROVED:______________________________
Sergio Lopez, Mayor
ATTEST:______________________________
Andrea Sanders, City Clerk
Item 7.9
Tuesday, December 02, 2025 140 of 239
Situs APN City/State
1 95 E HAMILTON AVE 279-27-096 CAMPBELL, CA 95008
2 499 E HAMILTON AVE 279-30-051 CAMPBELL, CA 95008
3 1288 RIDGELEY DR 288-14-002 CAMPBELL, CA 95008
4 412 KINGS CT 305-18-046 CAMPBELL, CA 95008
5 465 W CAMPBELL AVE 305-24-021 CAMPBELL, CA 95008
6 301 BUDD AVE 305-35-018 CAMPBELL, CA 95008
7 599 INWOOD DR 403-08-088 CAMPBELL, CA 95008
8 1009 S SAN TOMAS RD 403-10-124 CAMPBELL, CA 95008
9 1410 WESTMONT AVE 403-14-005 CAMPBELL, CA 95008
10 1265 BURROWS RD 403-16-113 CAMPBELL, CA 95008
11 1270 W. HACIENDA Ave 403-16-115 CAMPBELL, CA 95008
12 1250 W. HACIENDA Ave 403-16-116 CAMPBELL, CA 95008
13 1420 VAN DUSEN Rd 403-19-025 CAMPBELL, CA 95008
14 1615 WESTMONT AVE 403-44-040 CAMPBELL, CA 95008
15 780 JEFFREY AVE 404-23-001 CAMPBELL, CA 95008
16 638 SOBRATO LN 404-23-024 CAMPBELL, CA 95008
17 751 BUDD AVE 404-24-041 CAMPBELL, CA 95008
18 781 JEFFREY AVE 404-24-070 CAMPBELL, CA 95008
19 654 SOBRATO DR 404-26-023 CAMPBELL, CA 95008
20 996 KENNETH AVE 404-30-020 CAMPBELL, CA 95008
21 912 SOBRATO DR 404-30-062 CAMPBELL, CA 95008
22 800 SOBRATO DR 404-30-070 CAMPBELL, CA 95008
23 611 LAURA DR 404-31-001 CAMPBELL, CA 95008
24 621 LAURA DR 404-31-002 CAMPBELL, CA 95008
25 629 LAURA DR 404-31-003 CAMPBELL, CA 95008
26 775 W SUNNYOAKS AVE 404-32-014 CAMPBELL, CA 95008
27 803 W SUNNYOAKS AVE 404-32-016 CAMPBELL, CA 95008
28 817 W SUNNYOAKS AV 404-32-017 CAMPBELL, CA 95008
2026 WEED ABATEMENT PROGRAM

COMMENCEMENT REPORT

CITY OF CAMPBELL
Item 7.9
Tuesday, December 02, 2025 141 of 239
29 772 MARILYN DR 404-32-045 CAMPBELL, CA 95008
30 805 SHARMON LN 404-32-054 CAMPBELL, CA 95008
31 817 SHARMON LN 404-32-055 CAMPBELL, CA 95008
32 747 MARILYN DR 404-33-002 CAMPBELL, CA 95008
33 815 MARILYN DR 404-33-013 CAMPBELL, CA 95008
34 587 VIRGINIA AVE 406-01-006 CAMPBELL, CA 95008
35 625 VIRGINIA AVE 406-01-009 CAMPBELL, CA 95008
36 1103 HAZEL AVE 406-02-027 CAMPBELL, CA 95008
37 1121 HAZELWOOD AV 406-02-034 CAMPBELL, CA 95008
38 904 HAZEL AVE 406-04-020 CAMPBELL, CA 95008
39 955 LINDA DR 406-05-017 CAMPBELL, CA 95008
40 965 LINDA DR 406-05-018 CAMPBELL, CA 95008
41 975 LINDA DR 406-05-019 CAMPBELL, CA 95008
42 978 LINDA DR 406-05-037 CAMPBELL, CA 95008
43 891 CONNIE DR 406-05-045 CAMPBELL, CA 95008
44 920 S. SAN TOMAS RD 406-06-007 CAMPBELL, CA 95008
45 1200 SMITH AVE 406-06-009 CAMPBELL, CA 95008
46 908 KARA WY 406-06-078 CAMPBELL, CA 95008
47 865 BUCKNAM AVE 406-07-004 CAMPBELL, CA 95008
48 925 BUCKNAM AVE 406-07-010 CAMPBELL, CA 95008
49 1046 LOVELL AVE 406-07-016 CAMPBELL, CA 95008
50 1032 LOVELL AVE 406-07-017 CAMPBELL, CA 95008
51 1030 CONNIE DR 406-07-036 CAMPBELL, CA 95008
52 1008 CONNIE DR 406-07-039 CAMPBELL, CA 95008
53 976 CONNIE DR 406-07-042 CAMPBELL, CA 95008
54 948 CONNIE DR 406-07-044 CAMPBELL, CA 95008
55 870 W SUNNYOAKS AVE 406-12-047 CAMPBELL, CA 95008
56 864 W SUNNYOAKS AVE 406-12-048 CAMPBELL, CA 95008
57 1236 HACIENDA AVE 406-16-083 CAMPBELL, CA 95008
58 1017 STEINWAY AVE 406-17-035 CAMPBELL, CA 95008
59 1021 STEINWAY AVE 406-17-036 CAMPBELL, CA 95008
60 1052 STEINWAY AVE 406-17-042 CAMPBELL, CA 95008
61 1217 VIRGINA AVE 406-18-051 CAMPBELL, CA 95008
62 1231 VIRGINIA AV 406-18-052 CAMPBELL, CA 95008
63 1200 THERESA AVE 406-19-002 CAMPBELL, CA 95008
64 1300 CORA CT 406-19-004 CAMPBELL, CA 95008
Item 7.9
Tuesday, December 02, 2025 142 of 239
65 700 HACIENDA AVE 406-19-036 CAMPBELL, CA 95008
66 1270 THERESA AVE 406-19-054 CAMPBELL, CA 95008
67 1404 THERESA AVE 406-23-024 CAMPBELL, CA 95008
68 1429 THERESA AVE 406-23-027 CAMPBELL, CA 95008
69 1461 THERESA AVE 406-23-029 CAMPBELL, CA 95008
70 999 W PARR AVE 406-23-038 CAMPBELL, CA 95008
71 1560 VALE AVE 406-23-039 CAMPBELL, CA 95008
72 1080 AUDREY AVE 406-24-023 CAMPBELL, CA 95008
73 1420 RD 406-25-039 CAMPBELL, CA 95008
74 1246 CT 406-25-044 CAMPBELL, CA 95008
75 1500 AVE 414-04-005 CAMPBELL, CA 95008
76 430 CT 305-18-031 CAMPBELL, CA 95008
77 905 DR 404-33-031 CAMPBELL, CA 95008
78 671 AVE 406-01-012 CAMPBELL, CA 95008
79 4034 SADIE CT 404-17-023 CAMPBELL, CA 95008

BRACEBRIDGE
CAMDEN
QUEENS

BURROWS

MARILYN

VIRGINIA
Item 7.9
Tuesday, December 02, 2025 143 of 239
City Council Report
DATE: December 2, 2025
TITLE: Adoption of Ordinance 2337 (Inclusionary Housing Ordinance) amending Chapter 21.24 and 21.14 (Overlay/Combining Districts); and Ordinance 2338 amending Chapter 21.20 (Density Bonuses and other Housing Incentives) RECOMMENDED ACTION:

That the City Council take second readings to adopt Ordinances 2337 and 2338 amending Chapters 21.24, 21.14 and 21.20 of the Campbell Municipal Code (CMC).

BACKGROUND
In response to previous Council direction, staff prepared two ordinances addressing three Chapters of the Campbell Municipal Code. Chapter 21.14 and Chapter 21.24 were amended to address items related to the City’s Affordable Housing Overlay Zone (AHOZ) program and the City’s Inclusionary Housing Ordinance. Chapter 21.20 was amended to reflect changes related to Density Bonuses and other housing incentives.

DISCUSSION
At the regular meeting of November 18, 2025, the City Council held a public hearing and took first reading introducing Ordinance 2337 amending Chapter 21.24 (Inclusionary Housing Ordinance) and Chapter 21.14 (Overlay/Combining Districts,) as provided in the desk item; and Ordinance 2338 amending Chapter 21.20 (Density Bonuses and Other Housing Incentives.) The desk item was provided to correct an error in CMC

21.24.070.C.2. while the header correctly refers to projects with more than nine units, the accompanying text does not. A revised ordinance was provided to the City Council and added to the public agenda packet online.

Following the public comment period, the City Council voted with a 4-0-1 vote (Councilmember Scozzola Abstained) to approve first reading of Ordinances 2337 and 2338. Ordinances 2337 and 2338 will become effective 30 days following the City Council’s second reading.

FISCAL IMPACT
Nominal publication costs are associated with approving the Ordinance second reading to meet the requirement of Gov. Code 36933 but can be absorbed within the current FY Item 7.10
Tuesday, December 02, 2025 144 of 239
2026 Operating Budget. Costs for codification of the Ordinance in the Campbell Municipal Code are also included in the current budget by way of purchase order. Other fiscal impacts are included in the staff report introducing the Ordinance on November 18, 2025.

PREPARED BY: Andrea Sanders, City Clerk
Item 7.10
Tuesday, December 02, 2025 145 of 239
Report Approval Details
Document Title: Report - Adoption of Ordinance 2337 and 2338 related to Housing Policies.docx
Attachments: Ordinance 2337 - Amending CMC Ch. 21.24 and 21.14 .pdf Ordinance 2338 - Amending CMC 21.20.pdf
Final Approval
Date:

November 24, 2025
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 7.10
Tuesday, December 02, 2025 146 of 239
ORDINANCE NO. 2337

BEING AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
CAMPBELL AMENDING CHAPTER 21.24 (INCLUSIONARY
HOUSING ORDINANCE) AND CHAPTER 21.14
(OVERLAY/COMBINING DISTRICTS) OF THE CAMPBELL

MUNICIPAL CODE TO FACILITY APPROVAL OF HOUSING

DEVELOPMENT PROJECTS AND TO CLARIFY RELATED
REGULATORY REQUIREMENTS. FILE NO. PLN-2025-135.

WHEREAS, after notification and public hearing, as specified by law and after presentation by the Community Development Director, proponents and opponents, the hearing was closed.

WHEREAS, the subject ordinance will amend Chapter 21.24 (Inclusionary Housing Ordinance) and Chapter 21.14 (Overlay/Combining Districts) of the Campbell Municipal Code and Chapter 21.14 (Overlay/Combining Districts) to facilitate approval of housing development projects and to clarify related regulatory requirements.

WHEREAS, housing prices and rents in the City of Campbell have increased at a significantly higher rate than general wages. The lack of affordable housing in Campbell forces many residents to pay a very high percentage of their income for housing or to commute considerable distances, adding to air pollution and traffic congestion in Campbell and throughout Santa Clara County. The lack of affordable housing has made it more difficult to recruit workers from out of the area, in general, especially workers in lower-paying jobs, potentially affecting the economic vitality of the Campbell. New housing developments do not, to any appreciable extent, provide housing affordable to lower income households. As a result, there is a severe shortage of lower income housing as evidenced by the following:
a. According to the 2023-2031 Final Regional Housing Needs Allocation (RHNA) Plan for the San Francisco Bay Area, prepared by the Association of Bay Area Governments (ABAG), over half (56%) of the City’s housing need is for very-low, low, and moderate-income households. b. According to the U.S. Census Bureau, American Community Survey 5-Year Data (2015-2019) 44.6% of renters, and 27.4% of homeowners, in Campbell are cost burdened, spending more than 30% of their income on housing.

WHEREAS, the proposed amendments to Chapter 21.24 (Inclusionary Housing Ordinance) of the Campbell Municipal Code include additional findings in Section

21.24.010 (Purpose and findings.) which are included herein by reference.

WHEREAS, the proposed amendments would be consistent with the 2040 General Plan and 2023-2031 Housing Element of the City of Campbell including, but not limited to, the following:

Item 7.10
Tuesday, December 02, 2025 147 of 239
2040 General Plan
Goal LU-3: Employ creative approaches to providing a range of affordable housing options in Campbell while protecting the character of established neighborhoods.

LU-3.a: Implement the programs in the Housing Element in order to achieve the city’s housing goals.
2023-2031 Housing Element
Program H-1a: Inclusionary Housing Ordinance Implementation:

Amend the Inclusionary Housing Ordinance to offer developers a menu of options for achieving affordability, adjusting the percentage of units required to be affordable depending on the degree of affordability achieved (i.e., moderate-, low-, very low-, and extremely low income).

These amendments could also include:
• Initiating a nexus study to reevaluate increasing the affordable housing in-lieu fee.
• Updating the inclusionary ordinance to require for-sale projects to provide the same allocation of units available to lower-income and very low-income units that is required for rental projects.” • Modifying the In-Lieu Fee threshold to apply only to
developments of 5-9 units. Housing developments of 10 or more units would not be allowed to substitute affordable units with inlieu fees.

WHEREAS, the legislature of the State of California has, in Government Code Sections 65302, 65560 and 65800, conferred upon local governments the authority to adopt regulations designed to promote the public health, safety and general welfare of its citizenry.

WHEREAS, the review and adoption of the proposed amendments is done in compliance with California Government Code Sections 65853 through 65857, which require a duly noticed public hearing of the Planning Commission whereby the Planning Commission shall provide its written recommendation to the City Council for its consideration.

WHEREAS, adoption of the proposed Ordinance is considered a "project" under Section 15378(a)(1) of the California Environmental Quality Act (CEQA).

WHEREAS, the proposed Ordinance may be found exempt from environmental review under Section 15061(b)(3) of the California Environmental Quality Act (CEQA) in that there is no possibility that the proposed changes to the City’s Municipal Code may have a significant effect on the environment.

Item 7.10
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WHEREAS, the proposed amendments will not be detrimental to the public interest, health, safety, convenience, or general welfare of the city.

WHEREAS, the proposed amendments are internally consistent with other applicable provisions of the Campbell Municipal Code and Zoning Code.

WHEREAS, in consideration of the adoption of the subject Ordinance, the City Council provided due consideration of all evidence presented and provided in the entire administrative record.

THEREFORE, the City Council of the City of Campbell does ordain as follows:

Section 1. Chapter 21.24 (Inclusionary Housing Ordinance) of the Campbell Municipal Code is hereby amended to read as set forth in Exhibit A with underlining (underlining) indicating new text and strikeouts (strikeouts) indicating deleted text.

Section 2. Section 21.14.070.C.4. (Mixed-use development.) of the Campbell Municipal Code is hereby amended to read as follows with underlining indicating new text and strikeouts (strikeout) indicating deleted text:

4. Mixed-use development. Where the City's adopted Form-Based Zone Map designates a "Tier 1" ground-floor non-residential requirement, the project must adhere to all corresponding regulations outlined in the adopted Multi-Family Development and Design Standards, established in accordance with Campbell Municipal Code Section 21.07.030 (Multi-Family Development and Design Standards Document and Form-Based Zone Map adopted). This eligibility standard shall not apply to housing development projects that meet the criteria of Government Code Section 65915(b)(1)(G) and are located outside of the “Downtown Development Plan” boundary depicted on General Plan Figure LU-2 (Special Planning Areas); and
Section 3. Section 21.14.070.D.1. (Increased density bonus.) of the Campbell Municipal Code is hereby amended to read as follows with underlining indicating new text and strikeouts (strikeout) indicating deleted text:

1. Increased density bonus. The following density bonuses shall be offered to projects which provide a greater percentage of very-low, low-, or moderate-income housing units, by category, than otherwise required by State Density Bonus Law but less than required to qualify for an additional density bonus under state law. In no case shall the combination of the density granted under this Section and any other law result in a total density bonus that is greater than seventy percent, except for bonus unit granted for providing small-scale housing units in accordance with Campbell Municipal Code Section 21.20.060.B.3. (Density bonus for providing small-scale housing units). Further, density bonuses provided for by this Section may not be combined across income categories and shall be calculated consistent with Campbell Municipal Code Section 21.20.050.A (Number of units) excepting that for Step 2 - the corresponding percentage density bonus shall be calculated based on the values indicated in the tables below.

Item 7.10
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Section 4. Section 21.14.070.D.3. (Extended permit approval.) of the Campbell Municipal Code is hereby amended to read as follows with underlining indicating new text and strikeouts (strikeout) indicating deleted text:

3. Extended permit approval. Projects qualifying for an increased density bonus of any amount, in accordance with CMC Section 21.14.070.D.1., shall be granted a threefive-year permit approval for the first approval of all land use entitlements permits. The permit approval period of post-entitlement permits, such as building permits, and/or land use entitlements granting subsequent extensions of approval, and/or modifications to the first land use approval, shall not be extended as an incentive of this Section.

Section 5. If any section, sentence, clause, phrase, word, or other provision of this Ordinance is for any reason held to be unconstitutional or otherwise invalid, such holding shall not affect the validity of the remaining sections, sentences, clauses, phrases, words or other provisions of this Ordinance, or the validity of this Ordinance, shall stand notwithstanding the invalidity of any section, sentence, clause, phrase, word or other provision.

Section 6. The proposed Ordinance is exempt under Section 15061(b)(3) of the California Environmental Quality Act (CEQA) as there is no possibility that the proposed changes to the City’s Municipal Code may have a significant effect on the environment.

Section 7. The City Council further finds and determines that the proposed Ordinance is consistent with the goals, policies, and actions of the 2040 General Plan and the 2023- 2031 Housing Element.

Section 8. That this Ordinance shall become effective thirty (30) days following its passage and adoption and shall be published, or summary thereof, one time within fifteen (15) days upon passage and adoption in the Metro Silicon Valley, a newspaper of general circulation for the City of Campbell, County of Santa Clara.

PASSED AND ADOPTED this _______ day of ________________, 2025, by the following roll call vote:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

ABSTAIN: COUNCILMEMBERS:

APPROVED:

Sergio Lopez, Mayor
ATTEST:

Andrea Sanders, City Clerk
Item 7.10
Tuesday, December 02, 2025 150 of 239
Exhibit A

Page 1 of 19 ends

Chapter 21.24 INCLUSIONARY HOUSING ORDINANCE1

21.24.010 Purpose and findings.

A. The purpose of this Chapter is to enhance the public welfare by establishing policies which facilitate the availability of housing affordable to a broad range of households with varying income levels within the City of Campbell, meet the City's regional share of housing needs, and implement the goals and objectives of the General Plan and Housing Element.

B. The City Council desires to encourage the development of inclusionary units to be located upon the same site as market rate residential development to provide for integration of lower income households with households in market rate neighborhoods and to disperse Inclusionary Units throughout the City where new residential development occurs.

C. The City's Housing Element recognizes that affordable housing is a critical component to the City's economic and social health. Establishing policies which facilitate the availability of housing affordable to a broad range of households with varying income levels within the City of Campbell is consistent with and will implement the City's Housing goals, policies, and programs for Affordable Housing which include, but are not limited to, the following:

1. Goal 1: Improve Housing Affordability in Campbell - Encourage the Production of Affordable Housing; and

2. Program H-1a (Inclusionary Housing Ordinance Implementation).

D. Providing affordable housing for new employees in lower income jobs locally (rather than leaving those employees to obtain housing in lower cost areas far from Campbell employment centers and transit corridors) helps minimize housing's contribution to greenhouse gas emissions and locating housing to reduce vehicle miles traveled and auto dependency. If the increased demand for affordable housing is not addressed within Campbell it will cause such housing to be built elsewhere, in areas with lower land values that are far from city employment centers and transit corridors, and the resulting commuting will cause increased traffic and transit demands and consequent noise and air pollution.

E. If the increased demand for affordable housing is not addressed within Campbell it may also impact economic growth in that businesses within the city may find it more difficult to attract and retain the variety of workers that they need. 1 Ord. No. 2318, § 1(Exh. A), adopted Sep. 3, 2024, repealed the former Ch. 21.24, §§ 21.24.010—21.24.100, and enacted a new Ch. 21.24 as set out herein. The former Ch. 21.24 pertained to similar subject matter and derived from Ord. 2074, Att. 3 (part), adopted 2006; Ord. No. 2206, § 14, adopted Aug. 2, 2016; Ord. No. 2252, § 20, adopted Nov. 19, 2019; Ord. No. 2293, § 1(Exh. B), adopted May 2, 2023.

Item 7.10
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Page 2 of 19 ends

F. Establishing policies which facilitate the availability of housing affordable to a broad range of households with varying income levels also implements policies of the State of California to: (1) provide sufficient capacity for new housing affordable at all income levels necessary to accommodate the State's future economic growth; and (2) by providing housing for lower income workers, long commutes from less expensive housing markets can be avoided and thus contribute to the implementing the Global Warming Solutions Act of 2006 and the Sustainable Communities and Climate Protection Act of 2008.

G. State housing policy requires the City to assist in the development of adequate housing to meet the needs of lower income households. There is a significant shortage of housing affordable to lower income households, which will only increase as the finite number of residentially zoned parcels within the city are purchased and developed for market rate residential developments. This loss of residential land available for affordable housing is another impact of market rate residential development.

H. The requirements of this Chapter are based on a number of factors including, but not limited to, the City's long-standing commitment to economic diversity; the serious need for affordable housing as reflected in local and State housing laws, regulations, and policies; the demand for affordable housing created by the development of market rate housing; and the impact that the lack of affordable housing production has on the health, safety, and welfare of the City's residents including its impacts on traffic, transit and related air quality impacts, and the demands placed on the regional transportation infrastructure. Establishing policies which facilitate the availability of housing affordable to a broad range of households with varying income levels that are reasonably related to the burdens created by new market-rate development on the City's need for affordable housing will contribute to addressing impacts and fulfilling goals of the City and State of California.

I. The City also desires to provide the residential development community with alternatives to construction of the inclusionary units on the same site as the market rate residential development. Therefore, Section 21.24.070 (Alternatives) includes a menu of options from which an applicant may elect, in lieu of building affordable units within a residential project. Nothing in this Chapter shall deem or be used to deem the compliance options in Section 21.24.070 (Alternatives), including, but not limited to, the in lieu housing fee authorized pursuant to Section 21.24.70.C., as an ad hoc exaction, as a mandated fee required as a condition to developing property, or as a fee subject to the analysis in Building Industry Association of Central California v. City of Patterson (5th Dist. 2009) 171 Cal. App. 4th 886.

J. The City has prepared a Nexus Study which shows that there is a reasonable relationship between the purpose for which the in-lieu housing fees established by this Chapter are to be used and the type of development projects on which the fees are imposed, and between the need for affordable housing and market-rate development and between the amount of the fees and the cost of the affordable housing units or portion of the units attributable to the development on which the fees are imposed. The Nexus Study complies with the requirements of California Item 7.10
Tuesday, December 02, 2025 152 of 239

Page 3 of 19 ends

Government Code section 66001(A)(4) by establishing the reasonable relationship between the need for affordable housing and the development of market-rate housing.

K. It is the intent of the City that the in-lieu housing fee established by this Chapter shall be supplementary to any conditions imposed upon a market-rate housing project pursuant to other provisions of the Municipal Code, the Subdivision Map Act, the California Environmental Quality Act, and other State and local laws, which may authorize the imposition of project specific conditions on development.

L. High housing costs relative to income can contribute to overcrowding which has been found to contribute to impacts to public health, safety, and welfare according to the U.S. Department of Housing and Urban Development's 2007 report on "Measuring Overcrowding in Housing" and the Center for Disease Control's 2020 publication on "Health Effects of Housing.

M. The requirements of this Chapter are adopted pursuant to the City's police power authority to protect the public health, safety, and welfare. The requirements of this section are consistent with Housing Element goals related to protecting the public welfare by fostering an adequate supply of housing for persons at all economic levels and maintaining both economic diversity and geographically dispersed affordable housing.
(Ord. No. 2318, § 1(Exh. A), 9-3-2024)

21.24.020 Applicability.

This chapter shall not apply to rental projects or for-sale projects that are developed in accordance with, and subject to, a recorded governmental agency deed restriction or regulatory agreement that imposes affordable rent, occupancy, and eligibility restrictions or affordable ownership cost and sale price restrictions with associated eligibility and occupancy restrictions on all residential units in the development, except for manager's units. Such deed restriction or regulatory agreement must be recorded against the property, be binding on successors in interest for at least the same duration as required by this chapter, and be executed by the property owner and any of the following entities or agencies: the City of Campbell, the County of Santa Clara, the California Tax Credit Allocation Committee, the issuer of tax-exempt bonds used to finance the residential development, the California Department of Housing and Community Development or any other State of California agency, and the U.S. Department of Housing and Urban Development or any other federal agency.
(Ord. No. 2318, § 1(Exh. A), 9-3-2024)

21.24.030 Definitions.

As used in this chapter, the following terms shall have the meanings set forth below:

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"Appliances" means refrigerators, stovetops, ranges, microwaves, air conditioners, furnaces, heat pumps, electric vehicle chargers, whole house fans, and battery storage systems.
"Affordable ownership cost" means average monthly housing costs during the first calendar year of a household's occupancy, as determined by the city, including mortgage payments, loan insurance fees, if any, property taxes, reasonable allowances for utilities and property maintenance and repairs, homeowners insurance and homeowners association dues, if any, that is affordable to a low- or moderate-income household, or at even lower levels of affordability, adjusted for household size. "Affordable rent" means monthly rent, including utilities and all fees for housing services, which do not exceed thirty percent of the gross monthly income adjusted for household size.
"Affordable unit(s)" means one or more living units which are required under this chapter to be rented at affordable rents or available at an affordable housing cost to specified households.
"Applicant" means a person or entity who applies for a residential project and, if the applicant does not own the property on which the residential project is proposed, also means the owner or owners of the property.
"Area median income" means area median income for Santa Clara County as published pursuant to California Code of Regulations, Title 25, Section 6932 (or its successor provision).
"Construction cost index" means the California Construction Cost Index (CCCI) published by the California Department of General Services, Real Estate Service Division. If that index ceases to exist, the community development director shall substitute another construction cost index which in his or her judgment is as nearly equivalent to the original index as possible.
"Common ownership" means real property owned or controlled by the same person, persons, or entity, or by separate entities in which any shareholder, partner, member, or family member of an investor of the entity owns ten percent (10%) or more of the interest in the real property."
"Development project" means any project undertaken for the purpose of development. "Development project" includes a project involving the issuance of a permit for construction or reconstruction but not a permit to operate. "Development project" does not include any ministerial projects proposed to be carried out or approved by public agencies.
"Eligible household" means a household whose household income does not exceed the maximum specified in Section 21.24.040 (General requirements.) of this chapter for a given affordable unit.
“Evidence of common ownership” includes, but is not limited to, a contract, covenant, easement, lease, license, or similar document that either:
(a) vests majority control over the management, use, development, or transfer of an interest in one or more contiguous lots in Common Ownership that have majority control Item 7.10
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Campbell City CouncilDecember 2, 2025

Campbell City Council
December 2, 2025